Beijing has unveiled sweeping adjustments to its property market policies, aiming to stimulate demand and stabilize one of China's most closely watched economic sectors. Effective August 9, the new measures remove purchase restrictions for homes outside the city's fifth ring road while expanding financial support for buyers.
Under the updated rules, both Beijing residents and non-residents with at least two years of social insurance or tax payments in the capital can now purchase multiple properties in suburban areas. This marks a significant shift from previous policies that limited purchases based on household registration status and property location.
The reforms also strengthen housing affordability measures, doubling the maximum housing provident fund loan for second homes to 1 million yuan ($138,000) and standardizing minimum down payments at 30% for all second-home purchases. These changes eliminate previous discrepancies between urban and suburban property requirements, creating a more unified market framework.
This represents Beijing's second major policy adjustment since September 2023, reflecting ongoing efforts to balance market vitality with sustainable urban development. Analysts suggest the moves could improve housing accessibility for young professionals and migrant workers while supporting construction-related industries.
The announcement comes as Chinese authorities continue fine-tuning economic policies to address shifting demographic trends and evolving urban development priorities.
