如何解读北京进一步松绑限购政策︱重阳问答

Core Viewpoint - Beijing's recent policy adjustment to relax purchase restrictions is a response to the ongoing pressure in the real estate market, indicating a potential shift towards stabilizing housing prices and sales [2][3][4]. Group 1: Policy Changes - On August 8, Beijing's Housing and Urban-Rural Development Committee announced the cancellation of purchase restrictions for local residents and non-local residents with over two years of social security outside the Fifth Ring Road [2]. - The policy also includes increased support for housing provident fund loans, aiming to stimulate the housing market [2]. Group 2: Market Conditions - The real estate market has faced renewed pressure since the third quarter, with residential sales area dropping below 800 million square meters over the past 12 months as of June [3]. - New home sales in 30 major cities have shown a year-on-year decline of 12% since July, indicating a weak seasonal performance [3]. - In Beijing, while new home sales area has not significantly declined compared to last year, the average transaction price for new homes fell by 4% year-on-year in June, and second-hand home prices decreased by 1.8% [3]. Group 3: Implications of Policy Changes - The timing of the policy relaxation exceeded market expectations, signaling that stabilizing the housing market remains a priority for policymakers [4]. - The relaxation of restrictions in Beijing may lead to similar actions in other major cities like Shanghai and Shenzhen, potentially injecting new purchasing power into the market [4]. - Historical trends suggest that if housing prices and new home transactions continue to decline, further significant policy measures to stabilize the market may be anticipated [4].