Core Viewpoint - The Beijing second-hand housing market has shown signs of stabilization at the beginning of 2026, with a net signing volume of 15,082 units in January, maintaining a steady level above 14,000 units for three consecutive months, indicating a solid market recovery [1][2]. Market Performance - The net signing volume of second-hand homes in Beijing has been consistently above 14,000 units since November 2025, with figures of 14,446, 17,200, and 15,082 units recorded from November 2025 to January 2026 [2]. - The market has experienced a significant increase in transaction volume, with a 33% rise in transactions following the introduction of new real estate policies in December 2025 [3]. Demand Factors - The release of educational demand has shifted buyer sentiment, leading to an increase in transactions in certain areas, particularly those with quality educational resources and living facilities [6]. - The demand for improvement-type housing has risen, with a notable increase in transaction volume in areas previously dominated by first-time buyers [8]. Supply Dynamics - The number of second-hand housing listings has decreased from approximately 150,000 units to around 130,000 units, contributing to a more balanced supply-demand relationship [3]. - Owners are now pricing their properties more rationally, aligning with market conditions, which has facilitated smoother transactions [3][4]. Buyer Preferences - There is a noticeable shift in buyer preferences towards newer properties, with an increased focus on property services, product quality, and living experience rather than just price [7]. - The demand for improvement-type housing is no longer limited to outer districts, as even areas traditionally focused on first-time buyers are seeing a rise in improvement-type transactions [8]. Policy Impact - Recent policy changes, including adjustments to down payment ratios and mortgage rates, have significantly lowered the barriers to homeownership, encouraging more buyers to enter the market [9]. - The current mortgage standards and transaction costs are at historically low levels, creating a favorable environment for potential buyers [9][10].

Core Viewpoint - The Beijing second-hand housing market shows signs of stabilization with a net signing volume of 15,082 units in January 2026, maintaining above 14,000 units for three consecutive months, indicating a solid market recovery [1][2]. Market Performance - The net signing volume for Beijing's second-hand housing has been consistently above 14,000 units since November 2025, with figures of 14,446, 17,200, and 15,082 units recorded from November 2025 to January 2026 [2]. - The market has experienced a significant recovery since November 2025, driven by increased demand and favorable policies, with a notable increase in transaction volume in January 2026 [3]. Demand Factors - The release of educational demand has shifted buyer sentiment, leading to an acceleration of previously hesitant buyers entering the market, particularly in areas with good educational resources [6]. - The transaction volume in the Sanlihe area has remained high, with monthly sales exceeding 60 units for three consecutive months, indicating strong market activity [6]. Policy Impact - A series of new real estate policies introduced in December 2025, including adjustments to mortgage rates and down payment ratios, have contributed to the stabilization of the market and increased transaction volumes [2][3]. - The reduction of the down payment ratio for second homes from 30% to 25% has significantly lowered the entry barrier for buyers, enhancing the appeal of the market [9]. Supply Dynamics - The number of second-hand housing listings has decreased from 150,000 units to approximately 130,000 units, indicating a tightening supply that supports price stabilization [3]. - The rational pricing behavior of homeowners has also contributed to the steady transaction volume, as many sellers have adjusted their expectations to align with market conditions [3][4]. Buyer Preferences - There is a noticeable shift in buyer preferences towards higher-quality properties, with an increasing focus on property services, product quality, and living experience rather than just price [7]. - The demand for improved housing options is rising, even in traditionally affordable areas, as buyers seek properties that meet their evolving needs [8]. Conclusion - The combination of favorable policies, changing buyer preferences, and a stabilizing market environment suggests that the Beijing second-hand housing market is poised for continued growth and activity in the near future [10].