Hangzhou's land auction in the first half of the year: a total of 48.1 billion yuan raised, with land prices in the northern part of the city reaching a record high of 33,868 yuan per square meter.

Hangzhou welcomed the end of June's land auction today, with 5 residential land parcels in Xiaobei, Yuhang Yuncheng, Gongzhuang, and Linping Qiaosi in Xiaoshan District, Yuhang District, and Chongxian District, totaling 5.125 billion yuan, marking the end of the first half of the year for Hangzhou's land market. Throughout the auction, there was a mix of fierce competition and zero premium bids, continuing the trend of market differentiation between hot and cold transactions. Among them, the Xiaobei unit, which had been out of supply for 3 years, attracted 14 real estate companies to bid, with Guofeng winning the bid at a premium rate of 69.34%, with a transaction floor price of 33,868 yuan/square meter. As the first unrestricted land parcel in the area, it broke the record for land prices in the area without any suspense. On the other hand, non-core areas such as Qiaosi and Chongxian all closed at the base price. So far, in the first half of the year, a total of 34 residential land parcels have been sold in ten districts, with a total transaction amount of 48.145 billion yuan, a 50% decrease compared to the first half of 2025 when 68 residential land parcels were sold for a total of 116 billion yuan, representing a 58.5% decrease in comparison.