Core Viewpoint - The high-end improvement project in Hangzhou, specifically the Binjiang Greentown Aoying Mingcui project, has seen strong demand, with an average price of 87,000 yuan per square meter, making it the most expensive project in the Hangzhou market currently [1] Group 1: Project Details - The Aoying Mingcui project opened with 74 units available, starting from 225 square meters, and received registrations from 605 families, resulting in a lottery rate of approximately 12% [1] - The project is the first unlimited price land in the Hangzhou Olympic Sports Center area, with a land acquisition price of 48,186 yuan per square meter, which is significantly higher than the previous price limits in the area [2] - The project consists of 7 high-rise buildings and 2 stacked villas, with most units priced above 20 million yuan [2] Group 2: Market Dynamics - The project has redefined pricing in the Olympic Sports Center area, with an increase of 89.1% compared to the previous capped price of 46,000 yuan per square meter for new homes [2] - Other unlimited price projects in different areas have also seen price increases, with the first unlimited project in the Chengdong New City area priced at 65,600 yuan per square meter, reflecting a rise of 41% [2] - The demand for high-end properties has been suppressed due to past price controls, and the current project is seen as a release of pent-up market potential [3] Group 3: Future Outlook - The sustainability of the current pricing levels remains uncertain, as the market is still adjusting after a long period of price control [3] - The high-end market is exploring pricing strategies, indicating that further testing of price points will be necessary to gauge market response [3]