Execution of new real estate policies in Beijing, how is the market reacting?

The housing purchase restriction policy in Beijing is undergoing a new round of adjustments, summarized in one sentence as: Those who meet the requirements for purchasing a house are not limited to buying outside the Fifth Ring Road. This policy change directly benefits the new housing market. Looking at sales from January to July this year, over 80% of the new residential properties sold in Beijing were located outside the Fifth Ring Road. In terms of land supply, most of Beijing's residential properties are located outside the Fifth Ring Road. Therefore, this new policy will increase the number of potential buyers for new residential properties outside the Fifth Ring Road, which is good news for the market in that area. Secondly, the impact varies by location and target audience. Not all new housing developments outside the Fifth Ring Road will benefit from this policy change. In certain areas such as Haidian, Chaoyang, and Yizhuang where industries and businesses are concentrated and there is a high potential demand, the impact will be more pronounced. The impact will also be greater for developments with lower total prices and good amenities.