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Chinese housing market frenzy: shocking scene at the opening of a new real estate in Hangzhou

(People's Daily Online)    03:05, September 26, 2016


Surveillance camera caught the shocking moment a new real estate in east China's Hangzhou city open for sale on September 24. The spree was prompted by the new restrictions on Monday which prevent people born outside Hangzhou from buying more than one property.

The said real estate was sold out in a mere couple of hours, according to reports from local media.

Hangzhou is the latest in a series of Chinese cities to introduce property curbs in a bid to deter speculators and cool the market, which has reported rapid price increases in recent months. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Shen Chen, Bianji)

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