Seven residential land parcels in Hangzhou were sold for 14.562 billion yuan, second only to Beijing and Shanghai in terms of annual land sales

On December 31st, Hangzhou city completed the 21st batch of residential land transfer in 2024. According to the transaction results, all 7 plots were sold, with a highest premium rate of nearly 60%, and a total transaction amount of 14.562 billion yuan. According to data from the Zhongzhi Research Institute, in 2024, a total of 72 residential land parcels were sold in the ten districts of Hangzhou, with a transaction amount of 116.9 billion yuan, ranking third in the country in terms of transfer fees (only after Beijing and Shanghai). Hangzhou has emerged as an independent market for land auctions.