Following shanghai, guangzhou, and shenzhen, beijing has also announced new real estate policies, which will be implemented starting from October 1st.

On the evening of September 30th, the Beijing Municipal Commission of Housing and Urban-Rural Development issued a notice stating that for resident families purchasing their first commodity housing, the minimum down payment ratio for commercial personal housing loans has been adjusted to no less than 15%. For the purchase of a second commodity housing, the minimum down payment ratio for commercial personal housing loans has been adjusted to no less than 20%.

Non-Beijing household registration residents purchasing commodity housing within the Fifth Ring Road are required to pay social insurance or personal income tax for a period of at least 3 years continuously prior to the purchase date; for the purchase of commodity housing outside the Fifth Ring Road, the required payment period for social insurance or personal income tax is adjusted to a continuous period of 2 years or more before the purchase date.

Earlier, on the evening of September 29th, Shanghai, Guangzhou, and Shenzhen successively announced new real estate control policies. Among them, Guangzhou completely lifted property purchase restrictions, effective from September 30th. For details, click here: Breaking News! Guangzhou Completely Lifts Purchase Restrictions.

Shenzhen is optimizing the housing purchase restriction policies for different zones, lifting the transfer restrictions on commodity housing and commercial apartments. Especially, commodity housing and commercial apartments can be traded after obtaining the real estate registration certificate; adjusting the exemption period for personal housing transfer value-added tax, reducing the exemption period from 5 years to 2 years; optimizing personal housing loan policies, adjusting the minimum down payment ratio for first home commercial personal housing loans to 15%, and for the second home to 20% and so on. It is reported that the adjusted policies will be implemented starting from October 1st. For details, click here: Major News in Real Estate! Shenzhen Takes Action.

In Shanghai, for non-local household registration residents and singles purchasing housing outside the Outer Ring Road, the period for payment of social insurance or personal income tax prior to the purchase date has been adjusted to a continuous period of 1 year or more. Non-local household registration residents holding the 'Shanghai Residence Permit' and meeting the standard points requirement, who have paid social insurance or personal income tax in this city for 3 years or more, enjoy the same housing purchasing treatment as Shanghai residents in terms of the number of properties purchased.

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