The impact of Land Transfer Policies on the Real Estate Market: A Case Study of Hangzhou

Land transfer policies are fundamental to China’s real estate market, yet research on rural collective land remains limited due to its incomplete marketization. Existing studies primarily focus on major first-tier cities (Shanghai etc.), leaving gaps in understanding emerging cities like Hangzhou. This study examines how migration-driven land supply affects the real estate market, urbanization, and land-use diversification through policy text analysis, case studies and empirical analysis. Findings reveal that land transfer policies optimize market structures, enhance land-use efficiency, and promote social welfare while intensifying market competition. Sustainable development policies further facilitate a multi-stakeholder win-win outcome. The study concludes with policy recommendations and future research directions, considering Hangzhou’s comparative advantages while acknowledging data limitations.