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Hangzhou lifts ban on 2nd homes
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HANGZHOU yesterday became the latest city to ease its home purchase restrictions.
The ban on buying a second home in the city’s Xiaoshan and Yuhang districts will be lifted from today, the housing bureau said. It will also be lifted for people buying a second home measuring more than 140 square meters in downtown areas, it said.
About 20 regions, mostly second- and third-tier cities have lifted or eased restrictions on ownership of more than one home, which were introduced in 2011 as a tool to cool the property market.
At that time, more than 40 cities used the ban, as well as other measures such as higher mortgage rates and large down payment requirements to stifle the market for second homes.
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