Core Viewpoint - Hangzhou's housing security and management bureau announced a "Home Purchase + Consumption Voucher" subsidy activity to stimulate housing consumption and support residents' housing needs, promoting stable and healthy development of the real estate market [1] Group 1: Activity Overview - The activity will take place from October 27, 2025, to December 31, 2025, for home purchases, with the consumption voucher usage period from January 20, 2026, to March 31, 2026 [2][3][14] - The activity targets natural persons who purchase new residential properties in designated projects during the activity period [4][15][31] Group 2: Subsidy Details - Each eligible homebuyer will receive a consumption voucher worth 100,000 yuan, with total vouchers amounting to 2 million yuan in Fuyang District, 1.2 million yuan in Lin'an District, 1.2 million yuan in Tonglu County, 1.1 million yuan in Chun'an County, and 1 million yuan in Jiande City [5][17][33][45][61] - The consumption vouchers consist of a 50,000 yuan general-use voucher and a 50,000 yuan local-use voucher, which can be used in specified merchants [10][22][38][50] Group 3: Participation Process - Homebuyers must sign a participation agreement and provide personal information when purchasing a property [6][18][34][62] - If the total number of eligible participants exceeds the available vouchers, a public lottery will determine the recipients [8][20][36][48] Group 4: Voucher Distribution and Usage - Vouchers will be distributed through the Alipay platform, and participants must ensure their registered phone number matches the one provided during the agreement [11][24][67] - Vouchers are electronic and must be used within the specified period; they cannot be refunded or exchanged for cash [10][23][51]