A property developer in southern China demolished more than 100 houses this month after the firm failed to sell them over nearly a decade, according to a news website report. The houses were built in 2004 in one of the largest residential compounds in Heyuan in Guangdong province, Qq.com reported. China’s inventory of unsold new homes rises 11.2pc in 2015 The apartment buildings were sold, but none of the bigger more expensive houses could find a buyer, the developer was quoted as saying. Heyuan in eastern Guangdong is one of the poorest cities in the province. The developer, Jiang Rong Real Estate Development, did not reveal what it would do with the land. The demolition cost 120 million yuan (HK$143 million), the firm said. China’s Guangdong province turns to state firms to buy up its large inventory of unsold homes The massive destruction prompted protests from residents living in the area, according to the report. They complained it created a lot of noise and destroyed the environment in the area. They are demanding compensation from the developer, according to the article. Heyuan’s government was quoted as saying that the developer was able to tear down the buildings it did not sell, but should reach an agreement with residents in the area first. The developer said the demolitions had been approved by the city government.