“直降95万 北京五环外正上演抢房大战”首都的房地产开始下行了！

Core Viewpoint - The Beijing real estate market is undergoing unprecedented policy relaxation and price fluctuations, with a significant policy change allowing families to purchase unlimited properties outside the Fifth Ring Road, aiming to reverse the ongoing decline in the market [1][3]. Policy Changes - The new policy, effective from August 9, 2025, marks a historic turning point in Beijing's real estate regulation, significantly relaxing purchase restrictions for families buying homes outside the Fifth Ring Road [3]. - The policy allows eligible families, including local residents and non-local residents who have paid social insurance or income tax for over two years, to purchase unlimited properties outside the Fifth Ring Road [3]. - The policy also standardizes the purchase restrictions for single individuals, aligning them with family standards to better meet diverse housing needs [3]. Market Conditions - In contrast, purchase restrictions within the Fifth Ring Road remain cautious, with local families limited to two properties and non-local families restricted to one property, requiring three years of social insurance or tax payments [5]. - The price decline in areas outside the Fifth Ring Road is severe, with some neighborhoods experiencing over a 40% drop from their peak in 2021, indicating a challenging market environment [1]. Financial Support Measures - The new policy introduces significant enhancements to public housing fund loan policies, addressing key pain points in the current sluggish market [6]. - The recognition criteria for first-time homebuyers have been relaxed, allowing families with a cleared public housing fund loan elsewhere to qualify as first-time buyers, potentially reducing down payments by up to 600,000 yuan [6]. - The maximum loan amount for second homes has increased from 600,000 yuan to 1 million yuan, with additional benefits for families meeting specific criteria, allowing for a total loan of up to 1.4 million yuan [6]. - The mechanism linking deposit duration to loan amounts has been optimized, significantly reducing the time required to qualify for larger loans [6]. - The policy now permits the withdrawal of public housing funds for down payments while simultaneously applying for loans, lowering initial financial barriers for buyers [6]. Strategic Intent - The policy reflects a "steady and progressive" approach, aligning with the current stable market conditions and aiming to stimulate recovery at a critical juncture [8]. - It responds to the central government's call to stabilize the real estate market, as evidenced by a 1.8% year-on-year decline in second-hand home prices in June 2025 [8]. - The policy aims to promote balanced urban development, encouraging population and industry distribution in newly developed areas outside the Fifth Ring Road [8]. - It seeks to accurately release demand for improved housing conditions, allowing capable and willing families to enter the market and support housing condition improvements [8].