China Offers Property-Buying Perks to Families With Three Kids [Business News Network (BNN) (Canada)]
China Index Holdings Limited - American Depository Shares (CIH)
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Source: Business News Network
Hangzhou, the eastern city where internet giant Alibaba Group Holding Ltd. is based, said Tuesday that households with three children are now allowed to buy one more residence. The third child has to be born after May 31 last year. Such families can also enjoy precedence over other prospective buyers when purchasing new homes. The move makes Hangzhou the first major residential market to bundle property easing with birth rates, after at least seven smaller cities rolled out similar policy tweaks since April. China surprisingly allowed all couples to have a third child last year when births dropped to 10.6 million, the lowest since 1950. “Such a policy can spur home buying and encourage having more children at the same time,” said Gao Yuansheng, an analyst at China Index Holdings. “It again shows that China supports ‘real' housing demand for multi-children families.” The emerging policy trend is in line with the Chinese government's years-long principle that “houses are for livi
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