Nanning opens property market to non-residents

Bans on non-residents buying property will be lifted in Nanning, the Guangxi Zhuang autonomous region, the first crack in the three-year nationwide restrictions on housing sales.

More cities are likely to loosen restrictions as cash-strapped local governments are eager for revenue from land auctions and sales taxes to finance projects, experts said.

Changes may be seen in smaller cities while major cities such as Beijing and Shanghai will have to keep their restrictions, industry specialists say.