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Beijing has further eased home-buying restrictions to support demand in its soft residential market. Non-local residents can now purchase homes after paying income tax in the city for one consecutive year, down from the earlier two-year requirement. In addition, families with more than one child are allowed to buy an extra home in downtown areas. These measures are part of a broader effort by city authorities to stabilise housing demand as prices remain under pressure, following earlier rounds of policy easing across major Chinese cities.
Beijing's municipal authorities have further relaxed home-buying restrictions as part of ongoing efforts to support demand in the city's weakening residential market. The move comes amid continued pressure on home prices in the Chinese capital, where sentiment has remained cautious despite earlier policy easing. Advertisement
Under the revised rules, non-local residents, meaning buyers without a Beijing hukou, are now eligible to purchase homes if they have paid personal income tax in the city for at least one consecutive year. This marks a reduction from the earlier requirement of two consecutive years, lowering the entry barrier for migrant professionals and workers seeking home ownership in the capital.
The authorities have also adjusted rules for larger households. Families with more than one child are now permitted to purchase an additional home within Beijing's downtown areas. This change is aimed at addressing the housing needs of growing families and aligns with broader national policies encouraging higher birth rates.
Beijing has been gradually fine-tuning its property policies over the past year as China's real estate sector struggles with falling prices, weak sales, and high debt levels among developers. Similar measures have been introduced in other major cities, including lower down payment ratios, reduced mortgage rates, and eased purchase limits. Despite these steps, demand in top-tier cities has remained uneven, prompting local governments to continue adjusting policies within the limits set by central authorities.
Source Reuters
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