Get ready for some big news, house hunters! Beijing has just announced a fresh set of rules to inject life back into its property market. On Friday, the Beijing Municipal Housing and Urban-Rural Development Committee teamed up with the Beijing Housing Provident Fund Management Center to roll out new homebuying perks.
So, what’s changing? Here are the highlights:
- Anyone (yes, even non-Beijing residents!) with at least 2 years of social insurance or individual income tax paid in the city can now buy unlimited homes outside the fifth ring road. No more unit caps! 🏠
- The maximum loan amount for second-home provident fund loans jumps from 600,000 yuan to 1 million yuan. Talk about a boost! 💰
- Down-payment rules are simplified: every second home now needs at least a 30% down payment—no more inside vs. outside ring-road distinction.
These measures kick in on August 9, marking the second policy tune-up since last September. Beijing’s local authorities say this is all about adapting to market shifts and making homeownership more accessible. 🌟
For young professionals, investors, or anyone dreaming of a Beijing address, this could be your chance to make a move. Stay tuned as the city continues to fine-tune its real estate scene!
Reference(s):
cgtn.com
