Beijing Maintains Steady Momentum! Key Measures on Restrictive Home Buying in One-Child Cities Clarified! New Policy Announced

Home Buying Restrictions Further Relaxed

Specifically, according to the Notice, non-Beijing household residents purchasing residential properties within the Fifth Ring Road have their social insurance or individual income tax requirement reduced from two years to one year.

After adjustment, the number of properties that can be purchased remains unchanged: Non-Beijing households within the Fifth Ring Road may purchase one residential property after one year of social insurance or tax payments; families with multiple children may purchase an additional unit; purchases outside the Fifth Ring Road are unrestricted.

Property Transfer Policies Improved

The Notice also improves property transfer policies. Parents gifting a residential property under their family name to their children no longer need to verify the child's home purchase qualifications. Residents can directly apply for property transfer registration by submitting relevant documents.

Previously, to prevent speculative home buying, authorities required verification of the recipient’s home purchase qualifications, which often led to unintended consequences such as hindering legitimate inheritance and intercity property transfers. This policy adjustment is a practical, people-friendly measure aligned with real-life circumstances, further fulfilling the requirement to reduce restrictive measures in accordance with urban development needs.

Housing Fund Subsidy Amounts Significantly Increased

The Notice further increases the support level of housing fund subsidies and explicitly outlines multiple housing fund subsidy policies.

In terms of raising housing fund contribution limits: Previously, the maximum contribution limit for the first home was 1.2 million yuan, and for the second home, 1 million yuan. The new policy adjusts this to: For households where one person is a housing fund contributor, the maximum contribution for the first home is 1.2 million yuan, and for the second home, 1 million yuan; for couples both contributing to the housing fund, the maximum contribution for the first home is 2.4 million yuan, and for the second home, 2 million yuan.

For residents of Chaoyang District purchasing their first home outside the district, the maximum subsidy is up to 2 million yuan; for homes complying with Beijing's green construction development policy, the maximum subsidy reaches 4 million yuan; for multi-child families (two or more children) purchasing homes, the maximum subsidy is 4 million yuan.

When combining multiple conditions, the maximum subsidy can be further increased. For households where one member is a housing fund contributor, the maximum top-up is 600,000 yuan, with a total maximum contribution of up to 1.8 million yuan; for dual contributors, the maximum top-up is 1 million yuan, with a total maximum contribution reaching 3.4 million yuan—exceeding Shanghai's 'Seven Measures' cap of 3.24 million yuan at the time.

Additionally, housing fund subsidy amounts are synchronized with contribution duration rules. For Beijing residents without a residence or owning only one property, housing fund contributions have already been settled and can be re-applied for.

Furthermore, the scope of eligible 'housing-with-borrower' units has been expanded, supporting housing fund subsidies for such units. Homeowners can also withdraw housing funds for renovation, with a maximum withdrawal of 2.5 million yuan per unit, and withdrawals must be spaced at least ten years apart.

Market Stability Foundation Strengthened

This latest Beijing policy update is a concrete response to current market stability and steady growth. It reflects the city's proactive efforts to maintain a healthy and stable real estate market.

According to data provided by the Peking University Research Center on Real Estate Market Trends, Beijing's secondary market showed strong activity in the first half of the year, with cumulative online signings reaching 9.36 million units—the highest in five years—with a year-on-year increase of 11%. In July alone, transaction volume reached 1.61 million square meters, up 11% month-over-month and 36% year-over-year.

However, the new home market shows clear weakness. First-half cumulative transactions declined 7% year-on-year; in July, transactions dropped to 410,000 square meters—a 23% decrease month-over-month and a 5% decline year-to-date. Inventory stood at 11.24 million square meters, down 47% compared to last year, yet the inventory turnover period remains at 29 months, the longest among China's top four one-child cities.

Analysis suggests that the imbalance between strong secondary market activity and weak new home sales is one of the key reasons behind this policy revision. From a timing perspective, amid the post-pandemic recovery and precise alignment with the 'Golden Nine, Silver Ten' traditional peak season, Beijing chose to relax restrictions early in August—demonstrating a cautious, steady approach aimed at securing a complete validation window for policy effectiveness. From a signal standpoint, this marks a shift in policy thinking from 'quantity-driven' to 'precision-guided'.

Zhen Xue, Deputy Director of the Shanghai Institute of Real Estate Research, emphasized that this new policy carries strong signaling value. Under the gradual tightening of expansionary policy space, Beijing—as a one-child city benchmark—has chosen to optimize home buying restrictions at the beginning of August, demonstrating that local governments remain committed to maintaining stability in the real estate market.

As highlighted in 'Yi Shu Zhi Ping Luan Shi', from 2026 to now, Beijing, Shanghai, and Shenzhen have continued to optimize and relax 'urban planning, reduction of restrictive measures.' Beijing, as a policy trendsetter, signals that restrictive measures in one-child cities have largely been clarified and normalized—'policy bottom' is now more solid.