Buying, restoring old house become hobby of rich

The wufenglou, the mansion of five phoenixes, boasts a history of 600 years and was recently renovated.

Prior to that, there were no policies either allowing or disallowing the sale and resale of antique houses, as long as they were not listed by the local or central government as "relics under protection", leaving tens of thousands of collectors "as if playing games in the dark", as Yu Feng, vice-chairman of Collection Association of Club in Yiwu, Zhejiang province, put it.

The logistics magnate from the city home to the world's largest trading center of small commodities such as zips and socks, called antique houses "the ultimate item for any Chinese collector", as they make the perfect home for antique porcelain, furniture and paintings.

But others argue that the thriving house-collecting market is actually hastening the death of these antique houses, as the original residents, usually people who get by with just enough food and clothing, are more than ready to exchange their houses for cash.

"They barely live inside (the antique houses), they cannot even spend a whole day there. Practicality is never a concern. What pushes up the price is always legendary stuff: the type of people who used to reside there, or the propitious meaning of a certain carving," says Zhang.

Contact the writer at xujunqian@chinadaily.com.cn.