Mob of Eager Chinese Homebuyers Caught on Video Breaking Down Door to Buy a House

Eager Chinese homebuyers stormed into a residential building to buy flats that went on sale at around 9 am on Saturday.

In the mad dash to get the deals first, the mob of 100 homebuyers literally brought doors down, knocking them off from the hinges.

The footage of the frenzy, reportedly taken at an opening of a new real estate in Hangzhou, Zhejiang province, was uploaded by website Sina.com but was not able to identify the exact source of the footage.

As the rush of the crowd started to fill the lobby, the set of double front doors flies off its hinges, landing on a person, who struggled up to rejoin the property-hungry buyers.

Based on the National Bureau of Statistics, prices of property in Hangzhou have been on a steady rise since April, 2015, South China Morning Post reported.

The city is currently experiencing its fastest growth period ever, in part as a result of the recently held G20 summit and the upcoming Asian Games scheduled in 2022.

To moderate the craze, the municipal government has decreed that non-local residents who already has a residential property in Hangzhou were no longer allowed to buy more beginning September 19 .

In many major cities investors have been liquidating their stock market investments to purchase apartments for a sure return in profits. While recent stats show a minor decline in property purchases in major cities like Beijing, Shanghai and Guangzhou, second-tier cities continue to increase in demand and prices.