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Murdochs Buy Beijing Courtyard Home

Hot on the heels of the Beijing Municipal Government's announcement last April of regulations that encourage the buying of historic courtyard homes in the capital, Australian media mogul Rupert Murdoch and his Chinese-born wife, Wendy Deng, have done just that.

Known as siheyuan, Beijing "courtyard-style" homes have become rarities in recent years and have attracted much media attention as social historians and Beijingers have lobbied to preserve them.

Reversing a trend that prevented anyone other than Beijing locals or city companies from purchasing these important buildings, the new regulations are seen as an important step in preserving what remains of the capital's historic habitat. Much of the original space these buildings occupied has been cleared to make way for development, estimated to be about 40 percent of the original total space.

While the Murdochs are moving to perhaps the least endangered cluster of siheyuan or hutong of any part of the city, in Jingshan near the Forbidden City, the move is nevertheless seen as an important step in highlighting the plight of the traditional housing. Neighbours to the Murdochs are certain to include Chinese politicos, the Beijing elite and a fashionable scattering of film and entertainment stars.

It is understood the Murdochs are rebuilding rather than renovating their siheyuan courtyard home.

Sights of the type purchased by the Murdochs sell for as much as 40,000 yuan per square metre (sq.m) in Beijing. The Murdochs are rumoured to have spent 10 million yuan on theirs.

At one time, Beijing had over 15-million sq.m of courtyard homes. Today that number is estimated to be one fifth of its original size.

The approval and encouragement of local government will certainly prevent any further losses, in addition to preservation orders that limit what can be done with the buildings once they are in private hands.