China’s capital Beijing quietly removed restriction on listing prices of second-hand homes in Haidian district
POLICY & REGULATION REAL ESTATE
China’s capital Beijing quietly removed restriction on listing prices of second-hand homes in Haidian district
POLICY & REGULATION REAL ESTATE

China’s capital Beijing quietly removed restriction on listing prices of second-hand homes in Haidian district

 

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China’s capital city of Beijing has quietly scrapped some restrictions on the listing prices of second-hand homes in Haidian district, known for its good schools and access to quality education, in a bid to boost demand and prop up the property market.

The limit on listing prices was scrapped as early as last Friday, several property agents said, and homebuyers are now able to see the prices of several school district properties on housing websites and apps. More property owners are expected to market their listings in the next couple of weeks, they added.

Properties whose ownership grants students free admission to prestigious schools nearby were previously prohibited from listing their prices due to inflated demand between 2020 and 2021. A price restriction was also put in place by the Haidian district property association in September 2021 to rein in a price surge and stabilise the market.

A full list of the 29 properties on sale obtained by Yuan Talks shows that their prices range from 49,000 yuan ($6,717) to 171,000 yuan per square metre for flats measuring under 60 square metres.