Beijing scraps limits on listing prices of pre-owned homes in popular Haidian school district in bid to prop up demand

In Haidian, a district known for its good schools and access to quality education, 29 properties are now publicly advertising their listing prices for pre-owned homes

Move has prompted an increase in the number of clients inquiring about school district houses, agent for real estate brokerage 5i5j.com says

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Beijing’s Haidian district. Properties whose ownership grants students free admission to prestigious schools nearby were previously prohibited from listing their prices due to inflated demand. Photo: Shutterstock

Published: 6:00am, 13 Sep 2023Updated: 11:44am, 13 Sep 2023

Authorities in Beijing have scrapped a rule that limited the listing of prices of pre-owned homes in Haidian district, a move intended to boost demand and prop up the country’s slumping property market.

In Haidian, a district known for its good schools and access to quality education, 29 properties are now publicly advertising their listing prices for pre-owned homes, as reported by local news outlets.

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.

“We’re already seeing an increase in the number of clients inquiring about school district houses,” said Li Hongqing, an agent for 5i5j.com, a real estate brokerage firm. The prices of a batch of “zhankeng fang”, or “pit-occupying homes” that are usually too small and unsuitable for living but attract buyers due to their proximity to good schools, have also become available, Li added.

The limit on listing prices was scrapped as early as last Friday, several property agents told the Post, 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, the agents added.

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