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China Offers Property-Buying Perks to Families With Three Kids

  • Hangzhou city to allow such households to buy more homes
  • Follows smaller cities in trying to boost housing, birthrate

Chinese cities are making it easier for families with more children to own multiple properties, as authorities struggle to revive the housing market and boost birth rates.

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.