Beijing Eases Home-Buying Restrictions Amid Falling Prices

Beijing's authorities have reduced the restrictions on home purchases to increase demand due to declining prices. Now, non-local residents who have paid income tax for one year can buy homes. Families with more than one child can acquire an additional home in downtown Beijing.

In a bid to combat declining real estate prices, Beijing's local government has relaxed its home-buying restrictions.

The revised policy allows non-local residents, who have completed one year of consecutive income tax payments, to purchase homes in the capital. This is a revision from the previous two-year requirement.

Additionally, families with more than one child are now permitted to buy an extra home in downtown Beijing, as stated by municipal housing authorities on Wednesday.