(Yicai) July 9 -- The Dehong Dai and Jingpo Autonomous Prefecture in southwestern China's Yunnan province has started giving subsidies to buyers from other regions and even from the neighboring country of Myanmar to buy homes to increase sales.

Residents of key domestic cities and Myanmar can apply for a one-time housing subsidy equivalent to 80 percent of the deed tax, the local government announced today. The policy will be valid until the end of next year.

The prefecture, bordered by Myanmar, is known for its subtropical climate, ethnic minorities, and religious sites, attracting an increasing number of tourists in recent years.

Dehong also supports local state-owned enterprises to acquire completed but unsold housing from real estate companies at reasonable prices to be used as affordable housing for sale or rent.

Additionally, the region announced eased mortgage policies. First-time buyers can enjoy a down payment ratio of 15 percent, and the lowest ratio for buyers of second homes will be 25 percent.

Editor: Emmi Laine