Take a tour of this Chinese 'nail' neighborhood that's been in a stalemate with developers for the past 16 years

The area is centrally located in one of the world's most expensive real-estate markets. Luxury condo towers have popped up all around the neighborhood. But hundreds of people living in Guangfuli refuse to move out of their homes and allow the area to be developed.

Their defiance has created what in China is referred to as a 'nail' neighborhood, a term that references the last stubborn nail that can't be pried from a piece of wood. The phenomenon is more common with single homes with residents who can't come to an agreement with the government or a developer, so the houses remain standing as construction proceeds around them.

According to Reuters, some residents of Guangfuli now live in squalid conditions, growing vegetables in styrofoam boxes and braving the elements, since many windows lack glass and the buildings are poorly insulated.

But many say the developer won't pay them a fair price and are waiting it out until a better deal is reached. Take a look inside the neighborhood: