Hengqin announces scrapping of home purchasing restrictions

Hengqin, Guangdong province, announced on Thursday the scrapping of all restrictions on home transactions, according to official sources.

No qualifications will be required for the purchase of commercial housing at the Guangdong-Macao in-depth cooperation zone in Hengqin, and restrictions on the sale of commercial housing will be lifted at the same time, the Shanghai Securities News reported, citing a notice issued by the executive committee of the Guangdong-Macao in-depth cooperation zone in Hengqin.

The move is in a bid to support people's inelastic housing needs and better housing demands, said the announcement.

The measures are introduced to accelerate the creation of property development new model, and promote the stable and healthy development of the real estate market, it said.