Hangzhou house transactions leap

The transaction volume of apartments in Hangzhou jumped more than 180 percent week-on-week between Sept 12 and Sept 18 as investors flocked to the city to buy second homes before the launch of home purchase limits on non-residents buyers.

The city authorities said that, effective from Sept 19, homebuyers without household registration in the city - known in Chinese as hukou - are not allowed to buy a second home in the city's central districts, in a bid to curb rapidly rising house prices, curb speculative buying and prevent risks.

According to latest data from the National Bureau of Statistics, which monitors new home price in 70 cities across China, the average price in Hangzhou increased 3.3 percent month-on-month in August, the 17th consecutive monthly rise.