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Nanjing, Hangzhou tighten property policies

They raise minimum downpayment for second homes to 70% from 60%

[SHANGHAI] China's eastern cities of Nanjing and Hangzhou have raised the minimum downpayment required for second homes to 70 per cent from 60 per cent as more cities tighten property policies because of surging prices.

The cities will continue to ban mortgage lending for third homes and...

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