Tongling moves to prop up ailing property sales

Tongling, in China's eastern Anhui province, unveiled on Monday the country's latest measures to aid the realestate industry. The local government of China's smallest prefecture made the announcement on its website.

From May 1 to the end of the year, people who bought a residential apartment up to 144 sq m in area in the city can get a deedtax subsidy of up to 1 percent of the purchase price.

Only three consecutive monthly payments into a housing fund are needed before a potential buyer can apply for a mortgage. That's reduced from six months.