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China’s technology hub of Shenzhen, neighbouring Hong Kong, has relaxed the restriction on the purchase of commercial properties and business apartments by Hong Kong and Macau residents to boost property sales, reported the industry news outlet The China Real Estate Business .
The policy easing was completed in recent days and the relevant government departments will be notified, the report said, citing a source in the Housing Provident Fund Management Center of Shenzhen. The center is in charge of reviewing buyers’ qualifications.
The policy adjustments involve commercial properties including shops, offices and apartments, it said.
The policy relaxation is only available for Hong Kong and Macau residents, not including Taiwan residents and foreigners, while the purchase restriction on their purchases of residential properties remains unchanged, it said.
Under the previous rules, residents of Hong Kong, Macao, and Taiwan as well as Chinese living overseas, were allowed to buy one residential property in Shenzhen, but if they want to buy commercial property in the city, they must first set up a company and get a business license in the city.