Industry insiders: More cities are expected to implement detailed rules in the near future, easing the market's wait-and-see sentiment caused by policy uncertainty.

On September 24, nearly a month after the "828" real estate new policy was introduced, Beijing took the lead in delivering its local implementation rules, with clear and detailed provisions on pre-sales after topping out, pilot mortgage disbursement, installment payment of land fees, and the deposit system for existing-home sales. Industry insiders interviewed by reporters believe that Beijing's rules adopt a "cutoff between new and old" approach and a categorized rollout, firmly implementing the central government's standards while taking Beijing's actual conditions into account and offering some moderate flexibility, which is conducive to developers continuing to acquire land and invest in Beijing and will provide a reference for other cities. More cities are expected to roll out implementation rules next, easing the market's wait-and-see sentiment caused by policy uncertainty.