{"id":26736,"date":"2016-09-21T14:41:37","date_gmt":"2016-09-21T07:41:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/g20-hangzhou-hangover\/"},"modified":"2016-09-21T15:31:47","modified_gmt":"2016-09-21T08:31:47","slug":"g20-hangzhou-hangover","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/g20-hangzhou-hangover\/","title":{"rendered":"G20 Hangzhou hangover"},"content":{"rendered":"


\nPanic buying strikes again in China
\nQianjiang CBD in Hangzhou. Zhao jian kang \/ Shutterstock
\nTrying to douse scalding residential property values in Hangzhou after it hosted the G20 summit, housing authorities inadvertently catapulted sales to record heights.
\nAround 5,105 homes were snapped up in the city on Sunday, the most transactions in a single day in the city. At around 5 pm on the same day, authorities had announced a measure forbidding non-residents, or those without a \u201chukou\u201d or household registration certificate, from acquiring a second house in the downtown area, China Daily reported. The measure took effect Monday.
\nNon-local buyers accounted for 39 percent of home sales in the week after the G20 summit, the city\u2019s housing department explained. Although marked by diplomatic controversy, the summit was \u201ca big trigger to the city\u2019s housing market,\u201d Clement Luk of real estate agency Centaline Property told the South China Morning Post.
\nMore: How China\u2019s luxury homes are proud to be Chinese again
\nBuyers reportedly amassed around developers\u2019 offices in Hangzhou until midnight on Sunday. Real estate agents travelled overnight, POS machines in tow, to personally transact with clients in Shanghai, Quartz reported, citing Chinese-language newspaper Guangming Daily.
\nHangzhou, a growing technological hub where Alibaba is headquartered, recorded sales of 154,000 new homes in the first eight months of this year, according to E-House China R&D Institute. The National Bureau of Statistics also revealed that average new home prices in the city registered an increase of 22 percent in August year-on-year.
\nRumours of new mortgage restrictions in Shanghai in August caused a similar panic situation, shattering five-month sales records, crippled websites, and promoted divorces.
\nRead next: Shanghai police detain suspects over rumours that sparked home-buying chaos
\n
\nSource : property-report.com
\nRead more…G20 Hangzhou hangover<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Panic buying strikes again in China Qianjiang CBD in Hangzhou. Zhao jian kang \/ Shutterstock...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26736","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6Xe","jetpack-related-posts":[{"id":23367,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-luxury-landmark-in-hangzhou-is-inspired-by-the-moon\/","url_meta":{"origin":26736,"position":0},"title":"New luxury landmark in Hangzhou is inspired by the moon","date":"August 19, 2016","format":false,"excerpt":"\r A mixed-use development will represent the moonlit waters of the mighty Qiantang Qiantang River, Hangzhou City. Image credit: HelloRF Zcool\/Shutterstock A new development that will take inspiration from the moon and the Qiantang River is set to cause ripples in the skyline of Hangzhou. Toronto-based firm B+H, the architects\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24571,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hangzhou-summit-provides-new-opportunity-for-china-uk-global-cooperation\/","url_meta":{"origin":26736,"position":1},"title":"Hangzhou summit provides new opportunity for China-UK global cooperation","date":"September 1, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Hangzhou summit provides new opportunity for China-UK global cooperation","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-silicon-valley-closes-home-buying-loophole-as-sentiment-borders-on-mania\/","url_meta":{"origin":26736,"position":2},"title":"China\u2019s \u2018Silicon Valley\u2019 closes home-buying loophole as sentiment borders on mania","date":"June 27, 2018","format":false,"excerpt":"\r Authorities in Hangzhou moved to prohibit corporate buying of housing, closing what some believe was a loophole that gave an unfair advantage to some purchasers under the lottery system, the latest measures to calm the city\u2019s blistering residential market. 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In statement published online Tuesday, the Hangzhou Housing Security and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":143016,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hangzhou-home-to-alibaba-and-geely-turns-market-friendly-by-scrapping-more-barriers-to-revive-home-sales\/","url_meta":{"origin":26736,"position":4},"title":"Hangzhou, home to Alibaba and Geely, turns market-friendly by scrapping more barriers to revive home sales","date":"March 14, 2024","format":false,"excerpt":"\r The local government in Hangzhou has taken another drastic move to ease home-purchase restrictions, after an effort last year failed to sustain a rebound in the housing market.\r \r Source : South China Morning Post\r Read more...Hangzhou, home to Alibaba and Geely, turns market-friendly by scrapping more barriers to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":147350,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-hangzhou-and-chengdu-ease-purchase-rules-to-spur-housing-transactions\/","url_meta":{"origin":26736,"position":5},"title":"China property: Hangzhou and Chengdu ease purchase rules to spur housing transactions","date":"October 10, 2024","format":false,"excerpt":"\r Zhejiang province\u2019s capital lifts price restrictions for homes built on newly acquired land and cuts initial payments for new and used homes.\r \r Source : South China Morning Post\r Read more...China property: Hangzhou and Chengdu ease purchase rules to spur housing transactions","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26736"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=26736"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26736\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=26736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=26736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=26736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}