Core Viewpoint - The article discusses the upcoming auction of a residential land parcel in Hangzhou's Binjiang Puyang core area, marking the first residential land sale in the fourth quarter of the year, with a starting price of 1.05384 billion yuan [1][3]. Group 1: Land Auction Details - The land parcel, identified as BJ040301-01, covers an area of 19,968 square meters with a floor area ratio of 2.5, allowing for a total above-ground construction area of 49,920 square meters [2]. - The starting price for the land is set at 1.05384 billion yuan, translating to a floor price of 21,111 yuan per square meter [2]. - The auction is scheduled for October 15, 2023, and is expected to initiate a series of residential land supply in the fourth quarter [3]. Group 2: Market Context and Supply Trends - The supply of residential land in Hangzhou has slowed down, with only four parcels sold in August and two planned for September, indicating a trend of limited supply [1]. - The core area of Puyang has seen a surge in supply over the past few years, with several residential projects already developed, but currently, there are no new projects available for sale [4]. - Recent planning adjustments in the area will lead to the introduction of three new residential land parcels, totaling 70,600 square meters, which will provide additional supply to the market [4].