Core Viewpoint - The recent policy changes in Beijing's real estate market have led to a significant increase in property viewings and sales, particularly in areas outside the Fifth Ring Road, although the overall net signing data remains stable [2][7]. Group 1: Market Response to New Policy - Following the implementation of the new policy on August 8, there was a notable increase in property viewings, with daily visitor numbers reportedly doubling compared to previous levels [2][3]. - The first weekend after the policy change saw significant sales, with one project,招商玺, achieving approximately 2 billion yuan in sales, marking a 110% increase compared to the previous weekend [3][4]. - Online property platforms reported a 14.1% increase in new home click rates and a 24.4% increase in consultation rates compared to the first ten days of August [6]. Group 2: Policy Details and Implications - The new policy allows eligible families to purchase an unlimited number of homes outside the Fifth Ring Road, while maintaining existing restrictions for properties within the Fifth Ring Road [7]. - The policy aims to stimulate market demand and improve market expectations, focusing on internal demand rather than opening up to external buyers [7]. - Analysts suggest that while the policy may provide short-term market activation, long-term improvements will depend on economic fundamentals and household income expectations [7]. Group 3: Market Activity and Trends - Data from 中指研究院 indicates that over 80% of new residential sales in the first seven months of the year occurred outside the Fifth Ring Road, with over 50% of second-hand transactions also in these areas [7]. - The first weekend post-policy saw stable net signing data, with new residential transactions at 83 and 92 units, and second-hand transactions at 178 and 116 units [8].