Hangzhou real estate market: Land transactions rank second nationwide, luxury homes surge 66.5% to a record high - 36Kr

In H1 2026, Hangzhou’s new and existing home sales both fell, but the market split wider: new-home prices rose while second-hand prices eased, pushing the price gap to a record high.

Just-needed buyers increasingly turned to the resale market, while upgrade and high-end demand kept supporting new-home pricing.

Hangzhou’s land market ranked second nationwide at 48.14 billion yuan, with core-area parcels repeatedly setting new highs on strong premium bidding.

Luxury homes above 30 million yuan also hit record sales, underscoring resilient high-end demand and a stronger revaluation of the city’s core districts.