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International Business Times
International Business Times
World
AFP News

Chinese City Lifts Curbs On Buying Homes As Property Crisis Bites

The city of Hangzhou says it has ditched all purchase restrictions (Credit: AFP)

One of China's wealthiest cities said Thursday it would lift all restrictions on buying homes, joining a growing list of urban areas rolling back curbs as they look to prop up the faltering property market.

Many Chinese cities imposed restrictions and tough credit requirements on home purchases well over a decade ago in an effort to tamp down soaring prices and rampant speculation.

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