养老院“炒床”(yǎnglǎoyuàn chǎochuáng): Speculation on beds in nursing home

A private nursing home in Guangdong province, South China, has been "leasing" its beds, according to reports. For 240,000 yuan ($35,900), those leasing the beds have the use of them for 26 years. Those leasing the beds can live in the nursing home themselves or sell or sublet the beds to others. The beds can also be inherited.

There are no restrictions on the number of beds a person can lease, and anyone can do so, even foreigners.

According to one salesperson quoted in the reports, some people have leased the beds on an entire floor, and the rent for beds in the nursing home is expected to soar in the future.

Leasing beds in the nursing home in this way is a special kind of housing speculation. The new way of leasing beds in the nursing home caters for the need of some small and medium-scaled investors because there are strict restrictions on investment-oriented purchasing of housing in major cities.

However, it will inevitably result in various risks and disputes because of the lack of supervision and regulation, and may even become a hotbed for fraud.

In addition, it goes against the private nursing home's original intention of providing support for the elderly.

The related authorities are urged to pay attention to this phenomenon and enhance their supervision and introduce regulations.