Beijing Unveils New Real Estate Measures as Key Restrictions Lifted in Top Cities

  Further Relaxation of Housing Purchase Restrictions

Specifically, under the Notice, non-Beijing resident families purchasing commercial housing within the Fifth Ring Road now need only one year of social security or individual income tax payments, down from two years previously.

After the adjustment, the number of properties that can be purchased remains unchanged: a non-Beijing family with one year of contributions may purchase one residential unit within the Fifth Ring Road; multi-child families may buy an additional unit. Outside the Fifth Ring Road, there is no limit on the number of purchases.

  Enhanced Home Gift Policy

The Notice also improves the home gift policy. When parents transfer a commercial property under their name in Beijing to their children, the children's home purchase eligibility will no longer be verified. Residents can directly apply for property transfer registration with relevant documents.

Previously, to prevent artificial inflation of purchase qualifications, the recipient’s eligibility was checked—a mechanism that inadvertently hindered family housing inheritance and reasonable internal transfers across provinces. This policy update is a practical, user-friendly measure aligned with real-life needs, further fulfilling the requirement for city-specific policies to reduce restrictive measures.

  Significant Increase in Housing Fund Loan Limits

The Notice further strengthens support for housing funds by introducing multiple supportive policies.

Regarding increased loan limits, the previous maximums were RMB 1.2 million for first-time buyers and RMB 1 million for second-home buyers. Now, if one member of the household is a housing fund contributor, the maximum loan for a first home is RMB 1.2 million and for a second home RMB 1 million. If both spouses are contributors, the maximum loan for a first home is RMB 2.4 million and for a second home RMB 2 million.

For households registered in Beijing’s urban six districts buying a first home outside these districts, the maximum loan can increase by RMB 200,000. For homes meeting Beijing’s green building development support criteria, the increase can reach RMB 400,000. Beijing-registered families with two or more children can receive an additional RMB 400,000 boost.

When multiple conditions apply, the increases can be stacked. For a household with one contributor, the maximum increase is RMB 600,000, raising the ceiling to RMB 1.8 million. For couples both contributing, the maximum increase is RMB 1 million, pushing the ceiling to RMB 3.4 million—exceeding Shanghai’s previous 'Shanghai Seven Measures' cap of RMB 3.24 million.

Additionally, the linkage between housing fund loan limits and contribution duration has been optimized, along with updated loan eligibility criteria. Households in Beijing with no property or only one property, whose previous housing fund loans have been fully repaid, may reapply for new loans.

Furthermore, the scope of 'mortgage-assisted transfer' for existing homes has been expanded, including support for housing fund loans under this mechanism. Homeowners may also withdraw housing funds for self-occupied home renovations, up to RMB 250,000 per property, with a minimum interval of 10 years between withdrawals.

  Strengthening the Foundation for Market Stability

This new policy from Beijing is a concrete response aimed at further solidifying the stabilization of the current real estate market.

According to data from Prowise Intelligence Research Center, Beijing’s secondary housing market remained active in the first half of the year, with cumulative online signings reaching 93,600 units—the highest in five years—and a year-on-year increase of 11%. In July, transactions reached 1.61 million square meters, up 11% month-over-month and 36% year-over-year.

However, the primary housing market showed weakness. Sales declined by 7% year-on-year in the first half, with July sales at 410,000 square meters—down 23% month-over-month—and cumulative sales of 2.79 million square meters from January to July, down 5% year-on-year. Despite a significant 47% drop in narrow inventory (11.24 million square meters), the turnover period remains long at 29 months—the longest among China’s four major cities.

The analysis suggests that the imbalance between a strong secondary market and weak primary market activity contributed to the timing of this policy rollout. The policy was introduced at the end of the off-season, precisely aligning with the traditional peak season of 'Golden September, Silver October.' This strategic timing ensures a full window for validation in the fourth quarter. The signal indicates a shift in policy approach—from broad 'aggregate stimulus' to targeted 'precision relief'.

Yan Yuejin, Deputy Director of the Shanghai Yijiu Real Estate Research Institute, stated that the new policy carries strong signaling value. With limited room for additional policy expansion, Beijing, as a benchmark for first-tier cities, chose to further relax purchase restrictions in early August, demonstrating continued local government efforts to stabilize the real estate market.

Ding Zuyu's Real Estate Commentary noted that since 2026, Beijing, Shanghai, and Shenzhen have successively adjusted their policies, clearly signaling 'city-specific policies and reduction of restrictive measures.' As a policy trendsetter, Beijing’s adjustments indicate that restrictive measures across first-tier cities have largely been lifted, reinforcing a stronger 'policy bottom'.