Hangzhou land auction welcomed a "good start": Zhejiang private enterprises are fiercely competing for land with a premium rate of nearly 20%.

Hangzhous first residential land auction in 2026 ended with a heated competition. Local real estate enterprise Zhejiang Boce won the high-quality land parcel in Dongxin unit in Gongshu District with a total price of 877 million yuan after 30 rounds of intense bidding. The transaction price reached 33,515 yuan per square meter, with a premium rate of 19.81%.