Hangzhou Lifts Limits on Second Homes to Spur Housing Market
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Hangzhou scraps restrictions on second home purchases to boost housing market, following previous easing that failed to lift demand
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City is home to major Chinese companies like Alibaba and Geely Automotive
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Policy aims to target second-hand home market amid oversupply of 70,000 new units this year
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Capital gains tax exemption extended from 2 to 5 years for owners with multiple properties
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Despite some demand bumps, market recovery remains slow even in cities that already lifted purchase restrictions