During this year’s Spring Festival, Hangzhou’s “Tech Six Dragons,” represented by Unitree Robotics, DeepQuest, and Game Science, have become a sensation, drawing more attention to Hangzhou’s real estate market.

In the past, when people talked about internet companies in Hangzhou, Alibaba immediately came to mind. The rise of Alibaba directly fueled the development of Hangzhou’s real estate market, especially in areas related to Alibaba, such as Future Sci-Tech City, where property prices would fluctuate based on market news about Alibaba. Will the development of the “Tech Six Dragons” bring more excitement to Hangzhou’s real estate market in the future?

According to the Hangzhou Shell Research Institute, the number of second-hand housing clients on Shell’s Hangzhou platform during the Spring Festival increased by 55% year-on-year. Looking at the data for the entire month of January, a total of 6,064 second-hand homes were sold in Hangzhou, a decrease of 38% from December 2024 (9,751 units).

“The Spring Festival holiday has always been a traditional off-season for the real estate market, and transaction volumes are naturally affected. This has been the case every year, and a monthly transaction volume of over 6,000 second-hand homes is already a fairly good level,” said Shangguan Jian, Dean of the Hangzhou Shell Research Institute.

The reporter reviewed Hangzhou’s real estate data for last year’s Spring Festival month (February 2024) and found that the second-hand home transaction volume was 2,543 units. This year’s transaction volume is more than double that of last year.

In addition, according to statistics from the Hangzhou Shell Research Institute, the average transaction price of second-hand homes in Hangzhou reached 30,077 yuan/square meter in January this year, a significant increase of 5% from the previous month.