Hangzhou's land auction brought in 28.34 billion yuan, with a premium rate of over 33% for the residential land in the Future Science and Technology City.

Two low-density residential land in Hangzhou were successfully auctioned today, with a total transaction amount of 2.834 billion yuan. Among them, the future technology city plot has a planned construction area of 68,800 square meters. After 41 rounds of bidding, Jianfa won the bid with 1.604 billion yuan, a premium rate of 33.22%, and a transaction floor price of 23,314 yuan per square meter. The Xianghu plot went through 13 rounds of bidding, and was won by Binjiang Group with 1.23 billion yuan, a premium rate of 10.81%, and a transaction floor price of 20,500 yuan per square meter. Industry insiders say that this land auction continues the trend of high-quality core plots being sought after, reflecting the continued strong desire of real estate companies to compete for scarce resources. However, the market is not fully recovered, and high-quality plots still have the ability to obtain a premium.