Buy an Acre of the Moon

A company has set up operations in China to sell land on the moon for 289 yuan ($45) an acre, cashing in on renewed interest in space travel after the successful five-day voyage of Shenzhou VI . The so-called Lunar Embassy, touted as the first extraterrestrial estate agency, has started operations in Beijing, the China Daily reported.

It will issue customers a "certificate" that ensures property ownership, including rights to use the land and minerals up to three kilometres underground, said Li Jie, agent for the company in China. Lunar Embassy was set up by American entrepreneur Dennis Hope in 1980, 11 years after the Apollo II mission first landed people on the moon.

Mr Hope believes a loophole in the 1967 UN Outer Space Treaty makes his property sales legitimate. The agreement forbids governments from owning extraterrestrial property but fails to mention corporations or individuals.

Mr Hope said he has 3.5 million customers, including politicians and movie stars, who had purchased land on the moon.

Excerpt taken from News.au