北京楼市新政满月：中介平台二手房交易量提升三成，优质新房来访转化率提升

Core Viewpoint - The recent policy adjustments in Beijing's real estate market have led to a significant increase in transaction volumes and market activity, particularly in the second-hand housing sector, although regional and project-level disparities remain evident [1][2][4]. Policy Changes - The new policies include lowering social security requirements, supporting multi-child families in purchasing additional homes, eliminating distinctions between first and second home mortgage rates, reducing down payment ratios for public housing loans, and optimizing the business environment [2][3]. Market Performance - After one month of the new policy implementation, the transaction volume for second-hand homes increased by 33% compared to the previous month, with new customer inquiries and property viewings rising by 14% and 18%, respectively [2][3]. - The average daily registration of new residential properties reached 96 units, marking a 4.3% increase from the period before the policy change [2]. Market Dynamics - The warming market is attributed to improved market expectations, concentrated signing of contracts post-policy, and seasonal trends that typically see a natural uptick in activity during the first quarter [3][4]. - First-time buyers are currently the dominant force in the market, with a notable preference for entry-level housing, particularly in suburban areas and secondary centers [3][4]. Regional Disparities - There is a structural differentiation in market performance, with premium projects in core areas benefiting significantly from the new policies, while suburban and non-core projects show relatively flat performance [4][5]. - The number of second-hand residential listings has decreased, indicating a stabilization of owner expectations and early signs of market bottoming [4]. Future Outlook - The overall market is expected to continue its slow recovery, with second-hand homes dominating the market, accounting for 81% of total transactions in 2025 [5][6]. - The market is characterized by a significant divide between new and second-hand homes, with new properties targeting higher-end buyers while second-hand homes are trending towards lower price points [5][6]. - The policy environment is anticipated to remain supportive, with ongoing adjustments in purchasing qualifications and financial support, which may gradually improve market demand expectations [6].