Core Viewpoint - Beijing's new real estate policy, effective from August 8, allows unlimited purchases of commodity housing outside the Fifth Ring Road, while still maintaining certain qualification requirements for buyers [1][3]. Group 1: Policy Adjustments - The new policy primarily focuses on the area outside the Fifth Ring Road, where a significant portion of the housing inventory is located. Current statistics show that 81.4% of new residential inventory and about 50% of second-hand homes are situated outside this area [3]. - The policy aims to accelerate the market absorption in the Fifth Ring Road area by allowing more families with the ability and willingness to buy homes to enter the market, thereby optimizing inventory structure [3][5]. Group 2: Housing Fund Support - The policy includes measures to enhance housing fund loan support, broadening the definition of first-time homebuyers. Individuals without housing in the city or those who have previously used their housing fund loans can now qualify for first-time homebuyer benefits [5]. - The maximum loan amount for second homes has been increased to 1 million yuan, with a minimum down payment ratio of 30%. Additionally, for every year of housing fund contributions, the loan limit increases by 15,000 yuan [5]. Group 3: Market Impact - The new policy is expected to attract more buyers to the Fifth Ring Road area, leading to an increase in project construction and the availability of second-hand homes in the market [3][7]. - The adjustments are anticipated to alleviate inventory pressure, stimulate economic activity, facilitate population dispersal, and promote regional collaboration, contributing to the stable and healthy development of the real estate market and sustainable urban growth [7].

Core Viewpoint - The recent policy adjustment in Beijing's real estate market aims to promote stable and healthy development while better meeting residents' housing improvement needs and effectively utilizing market mechanisms [1][2][3] Group 1: Policy Adjustments - The most notable change allows residents to purchase an unlimited number of properties outside the Fifth Ring Road, provided they meet certain conditions [1][2] - The policy reflects a targeted approach to real estate regulation, differentiating between areas inside and outside the Fifth Ring Road to facilitate market entry for capable and willing families [2] Group 2: Market Dynamics - Current statistics indicate that 81.4% of new residential properties and approximately 50% of second-hand homes are located outside the Fifth Ring Road, highlighting the need for policy adjustments in this area [2] - In the first seven months of this year, over 80% of new residential sales and more than 50% of second-hand home transactions occurred outside the Fifth Ring Road, indicating a shift in market activity [2] Group 3: Financial Support Measures - The new policy includes increased support for housing provident fund loans, broadening the definition of first-time homebuyers and raising the maximum loan limit for second homes to 1 million yuan [3] - The policy allows for a lower down payment for families previously classified as second-home buyers, effectively reducing the barriers to homeownership [3] Group 4: Expected Outcomes - The adjustments are expected to alleviate inventory pressure, stimulate economic growth, relieve population density in central areas, and promote regional collaboration [3]