03/05/2013 05:53 BST | Updated 02/07/2013 06:12 BST

Lunar Estate Agent 'Has Sold 7.5% Of The Moon'

An estate agent claims to have sold more than 7.5% of the Moon's surface.

Despite there being no current laws about real estate in space - and without having been there himself - entrepreneur Dennis Hope from Nevada, USA, says that he has sold deeds to millions of acres of Lunar property.

His company - Lunar Embassy Corp - sells an acre of land on the Moon for the cut-down price of $19.99 - or £16.99 via UK website Moon Estates. He also sells land on Mars at a slightly more expensive $22.49 a pop, plus tax and - oddly - shipping.

He says that while 7.5% of the Moon has been sold so far, demand is not slowing.

Laws exist to prevent countries from claiming land in space - known as the international Outer Space Treaty of 1967. But private companies aren't prevented explicitly from claiming land. quoted an expert in space law who said that the deeds sold by LEC were a "gray area" - and obviously there is little chance of a competing claim emerging in the near future.

But eventually this might prove to be slightly problematic. Best thing to do is buy your plots now - or else pick up land on another celestial body. We here Mercury's going cheap right now - can't think why.