Beijing is rolling out the red carpet for homebuyers with relaxed policies aimed at boosting its sluggish property market! 🚀 Starting August 9, residents and non-residents with at least two years of social insurance or tax records in the city can buy homes outside the fifth ring road without purchase limits. No more “one property per household” headaches! 🎉
💸 Bigger Loans, Lower Down Payments
The housing provident fund loan limit for second homes jumps from 600,000 yuan to 1 million yuan—a 66% boost! 💰 Plus, the minimum down payment for second homes drops to 30%, scrapping the old split between properties inside and outside the fifth ring. Whether you’re eyeing a downtown condo or a suburban villa, the rules just got simpler. 🏙️➡️🏡
Why Now?
This marks Beijing’s second major policy tweak since September 2023, signaling a push to stabilize the real estate sector amid cooling demand. Analysts say it could spark a wave of ‘upgrade’ purchases from middle-class families. 📊 Will this move reignite the market? Stay tuned! 🔥
