STOCKS | Beijing Home Market New Policy Spurs Faster Sales and Tighter Bargaining Room

According to Jin10, Beijing's home market new policy has been in place for one month, with nearby new projects using price cuts to boost sales, some offering 11% discounts, and some projects nearly fully subscribed before opening registration. Secondhand home transactions have accelerated, sellers' bargaining room has narrowed, and the overall market has shown a clear recovery trend. Hoso Institution data showed that in the month after the policy, Beijing's new-home and secondhand-home transaction volumes rose 8.5% and 2.3%, respectively, compared with the month before the policy. Centaline Property Research Center data showed that Beijing recorded 13,853 secondhand residential home registrations in August, down 1.3% from July but up about 4.1% year on year, marking the sixth straight month above the 13,000-unit threshold. At the end of August, secondhand home registrations rose sharply, reaching 852 on August 31. Industry participants interviewed said the policy's targeted effect on first-time buyers and upgraders is gradually being released, and Beijing's new-home and secondhand-home transaction volumes are expected to keep recovering during the September-October peak season, although the market is still likely to remain uneven.