A villa in Hangzhou sold for 288 million yuan, with a unit price of 450,000 yuan; 4 buyers battled through 228 rounds of bidding.

On October 10, on the Alibaba auction platform, a 629-square-meter French-style detached villa in Tianyi Court, Jiuxi Rose Garden, Hangzhou, attracted four bidders who fought through 228 rounds before the hammer fell at 288 million yuan, equivalent to about 457,600 yuan per square meter. The lot was a commercial auction rather than a judicial foreclosure auction. Platform information shows that the property was a French-style detached villa with a building area of 629.39 square meters, accompanied by about 5 mu of private garden. Its earlier renovation cost nearly 20 million yuan, the starting price was 168 million yuan, and the deposit to participate in the bidding was 3 million yuan. The villa officially went under the hammer at 10 a.m. on October 9. Five buyers registered, but only four bidders made offers, attracting nearly 60,000 views. Starting on the morning of October 10, the four bidders took turns making moves, constantly setting new bid records, with the price climbing all the way from 168 million yuan. In the end, after 228 rounds, bidder "F2022" won it for 288 million yuan, a premium rate of 71.43%. On the 12th, a staff member of the auction company told reporters that in June this year the company had been entrusted by the owner to list the villa on the auction platform. At that time, the starting price was 280 million yuan, but it was later withdrawn at the owner's request. The staff member said the detached villa is in a very good location and can be regarded as the king of the entire residential compound. In addition, apart from soft furnishings and the garden, the house has not been decorated, while the hard renovation has been completed. The reporter found that the Jiuxi Rose Garden residential compound is located in the core of the Zhijiang National Tourist Resort. Composed of more than 200 villas, it is a representative of Hangzhou's low-density ultra-luxury homes. According to Chao News, in 2024 Jiuxi Rose Garden recorded 14 transactions, with an average price of 76 million yuan per unit and the highest unit price at 270,000 yuan. According to statistics from a Hangzhou real estate brokerage institution, from January 2025 to January 21, 2026, among the villas transacted in the compound, five had a total price exceeding 100 million yuan, with the highest unit price at 330,000 yuan.