北京五环外限购真相揭秘：并非完全放开，别被误导！

Core Viewpoint - The recent policy adjustments in Beijing's real estate market, particularly the easing of purchase restrictions outside the Fifth Ring Road, have generated mixed reactions, with excitement and skepticism coexisting as the market grapples with ongoing price declines and structural challenges [1][3][9]. Policy Background - Since 2025, Beijing's housing prices have been on a downward trend, especially in the second-hand market, prompting the government to take action to stabilize market confidence and halt the price decline [3][6]. - The easing of restrictions is seen as a necessary step, but there are doubts about whether the outer areas can significantly influence the overall market, as the core areas within the Fifth Ring Road remain the true market drivers [3][6]. Market Reactions - Following the new policy, there has been a slight uptick in sales activity in some new developments outside the Fifth Ring Road, but historical precedents suggest that such bursts of activity may be short-lived [5][6]. - The initial excitement has not translated into a sustained surge in demand, with many potential buyers remaining cautious and opting to wait for more favorable conditions [6][9]. Structural Issues - The high vacancy rates in outer areas highlight a mismatch between supply and demand, as new developments are not attracting enough residents, which complicates the effectiveness of the policy changes [7][9]. - The core areas continue to attract population and investment, leaving the outer regions struggling to gain traction despite the policy adjustments [6][9]. Future Considerations - For the outer areas to see a genuine turnaround, there needs to be a coordinated effort to improve population inflow, optimize industrial layout, and enhance essential services such as education and healthcare [11][13]. - The current policy changes are viewed as a temporary measure, and the market is awaiting more substantial actions in the core areas to determine the future trajectory of Beijing's real estate market [11][13].