Core Points - Beijing has implemented a significant relaxation of housing purchase restrictions, particularly affecting properties outside the Fifth Ring Road, allowing eligible buyers to purchase an unlimited number of homes [3][9] - The new policy is expected to stimulate market activity, especially in the outer areas where over 80% of new residential sales occurred in the first seven months of the year [7][9] - The immediate response to the policy has been positive, with increased foot traffic in sales offices and a surge in inquiries from potential buyers [4][5] Policy Changes - The new regulations allow Beijing residents and non-residents with two years of social security or income tax payments to buy homes outside the Fifth Ring without limit, while restrictions within the Fifth Ring remain unchanged [3][4] - This marks the most substantial easing of restrictions since previous adjustments made last year, indicating a shift in the government's approach to housing market regulation [3][9] Market Impact - The policy is anticipated to boost transactions, particularly for high-inventory areas, with an estimated 80% of new projects likely to benefit from the changes [7][8] - Historical data shows that previous policy relaxations led to significant increases in transaction volumes, suggesting a similar outcome may occur following this latest adjustment [7][8] Buyer Behavior - There has been a noticeable increase in buyer interest, with reports of long wait times at sales offices and a high volume of consultations with real estate agents [4][5] - The new policy also opens opportunities for individuals looking to upgrade from existing properties, potentially enhancing the overall transaction chain in the market [8][9] Industry Sentiment - Real estate professionals express cautious optimism, noting that while the policy will likely stimulate demand, the overall market dynamics remain complex, with high inventory levels and prevailing market hesitance [8][9] - Analysts suggest that the policy reflects a gradual adjustment strategy by the government, aimed at balancing market stability and growth [9]