Residential Property Near Xi'an City Wall Auctioned for One Yuan: Requires 200,000 Yuan Deposit, Already Attracting Hundreds of Followers

On March 17th, a reporter learned from the Alibaba Judicial Auction Platform that the People’s Court of Yintai District, Tongchuan City, Shaanxi Province, will hold a public judicial auction on April 14th for a residential property located in Xi’an City. The starting bid for the property is only 1 RMB, attracting widespread attention.

Auction information shows that the property is located at No. 147, South Labor Road, Lianhu District, Xi’an City, Shaanxi Province, in the Jiahua Building. The building has a total of 28 floors, with the auctioned residential unit on the 20th floor. The building area is 148.91 square meters, and its designated use is residential.

Relevant data indicates that the property was appraised in 2023, with a total valuation of 2,541,596 RMB, roughly 17,000 RMB per square meter. Geographically, the property is close to Xi’an City Wall, and its location is not remote.

The reporter noted that before the starting bid of 1 RMB, the People’s Court had organized the first auction, second auction, and judicial sale of this property, but none were successful due to no bids. After multiple failed attempts, the property was re-entered into the auction as a criminal asset, with a starting price set at 1 RMB.

When calling the consultation phone number listed in the auction notice, staff said that the significant reduction in the starting price was mainly due to previous unsuccessful auctions. Despite the extremely low starting bid, the bidding conditions have not been relaxed.

Auction platform information shows that bidders must pay a deposit of 200,000 RMB, with bid increments set at 6,000 RMB each time. This means bidders need to have certain financial strength to participate in the bidding.

Additionally, the auction notice specifically reminds that from January 1, 2020, to March 31, 2026, the property has accumulated unpaid fees for property management, garbage disposal, heating, totaling 28,022.19 RMB. These costs will be borne by the buyer after the transaction, so participants should consider these costs carefully before bidding.

As of the time of reporting, over 570 people on the platform have set reminders for this auction, but no one has officially registered to participate yet. Industry experts analyze that although the 1 RMB starting bid is visually very attractive, factors such as the high deposit requirement, historical debt issues, and asset attributes may still affect the actual transaction outcome.

Whether the property will be successfully sold in this auction and at what price remains to be seen as the auction results are announced later.