Expert Interpretation of the New Beijing Real Estate Policy: Non-Beijing residents must have continuous social security or tax payment records for purchasing houses within the Fifth Ring Road, with "3 Consecutive Payments and 2 Records" requirements.

Since September last year, Beijing has loosened its real estate policies three times. Li Yujia, chief researcher at the Guangdong Housing Policy Research Center, said that the housing consumption potential in Beijing lies with the non-registered population living in the city. Whether it is rooted in necessity, marriage, education, or rigid improvement, they are the main demand drivers. He pointed out that in the past, due to high housing prices and restrictions on social security payments, demand was not fully released. Currently, the adjustment from the peak of housing prices is relatively large, while the costs of buying a house such as down payments, taxes, and fees have reached historic lows, unleashing pent-up demand. Therefore, this move will effectively promote the release of market demand, helping market transaction volume to rebound and stabilize transaction prices.