A residential land parcel in Gongshu District, Hangzhou was sold for 1.374 billion yuan, with a premium rate of over 40%.

On May 29th, a residential land in Gongshu District, Hangzhou officially went up for auction. According to the transaction result, Hangzhou Zhequn Real Estate Co., Ltd. under Greentown Holdings Group won the bid with a bid price of 1.374 billion yuan, with a premium rate of 40.33%. The land, identified as plot GS120201-7 in Kangqiao unit of Gongshu District, is bordered by Gongkang Road to the east, Ping'an Qiao Road to the south, Ping'an Qiao River to the west, and Ping Lian Road to the north. The land has an auction area of 26,351 square meters and a total construction area of 57,972.2 square meters, with a starting price of 979 million yuan, equivalent to a starting floor price of 16,893 yuan per square meter. The land is designated for residential use.