In August, 13,853 second-hand residential units were transacted in Beijing, marking a 3.9% year-on-year increase.

August has just ended, how about the property transaction performance in Beijing?

According to the online signing data released by Beijing Municipal Commission of Housing and Urban-Rural Development, the number of second-hand housing online signings in Beijing in August reached 13853 units, representing a year-on-year increase of about 3.9% compared with 13331 units in August last year.

In terms of the trend, the second-hand housing transactions in Beijing in the first half of this year are significantly more active than those in previous years, and from April to June, it hit new highs in the latest 5 years for three consecutive months.

However, starting from July, the transaction volume of second-hand housing has shrunk, the transaction volume of second-hand housing in July dropped from more than 16,000 units in June to about 14,000 units, and further slid to more than 13,000 units in August.

Such a trend is partly due to the hot summer weather, the fact that the school enrollment demand in the first half of the year has been released, leading to a seasonal decline in second-hand housing transactions. Looking at the past 5 years, except that the transaction volume of second-hand housing in August 2024 reached about 14,400 units due to the stimulus of the new policy on June 26, the figure in other years mostly hovered at more than 13,000 units, and it was even less than 11,000 units in 2023.

On the other hand, there has been no new policy stimulus in Beijing for more than half a year after the introduction of the new property policy on December 24 last year.

On August 7 this year, Beijing rolled out new policies again, including raising the maximum provident fund loan limit for first homes to 3.4 million yuan, and reducing the social security or tax payment requirement for non-local residents purchasing houses within the Fifth Ring Road to one year, etc.

However, since the online signing of second-hand housing transactions takes a process, house viewing, price negotiation and contract signing after the new policy are all time-consuming, which generally takes about one month. Therefore, the impact of the new policy on the online signing of second-hand housing will lag for a period of time.

Coincidentally, Beijing also introduced new property policies on August 8 last year, including no limit on the number of houses that can be purchased outside the Fifth Ring Road, and raising the maximum provident fund loan limit for second homes, after which the transaction volume of second-hand housing rose back to 15843 units in September last year.

The situation this year is quite similar to that of last year. Therefore, the performance of Beijing's second-hand housing transactions in the upcoming September is worthy of observation and comparison.

This article is from the WeChat official account "Jingfangzi", author: Jingfangzi, published by 36Kr with authorization.