As Beijing continues to develop, housing prices are also rising. For people who want to buy a house in Beijing, down payment is an important issue. So, how much is the down payment for buying a house in Beijing? Let’s analyze Beijing’s housing prices and home purchase policies.

The current situation of housing prices in Beijing

Beijing’s housing prices have always been the highest in the country. The current housing prices in Beijing’s urban area have exceeded 60,000/square meter. Moreover, as Beijing continues to develop, housing prices continue to rise.

For ordinary home buyers, if they want to buy a house in urban Beijing, the down payment must be at least 30% of the house price. In other words, if you want to buy a house worth 1 million, The down payment must be at least 300,000.

Beijing’s home purchase policy

Beijing’s home purchase policy is relatively strict, and home buyers need to meet certain conditions before they can purchase a house. First of all, the home buyer must be a registered resident of Beijing, or a non-registered resident who has paid social security or personal income tax in Beijing for more than 5 consecutive years.

Secondly, home buyers need to comply with Beijing’s purchase restriction policy. According to Beijing’s purchase restriction policy, home buyers need to meet the following conditions when purchasing their first home:

The home buyer must be a registered resident of Beijing, or have continuously paid social security or personal tax in Beijing. Non-registered residents for more than 5 years;

House buyers must not own a house in Beijing;

House buyers must purchase a house with an area not exceeding 90 square meters;

If the home buyer meets the above conditions, he or she can buy the first home. However, it should be noted that when purchasing a second home, home buyers need to pay a higher down payment, and the purchase area is also limited.

Steps for down payment for buying a house in Beijing

If you comply with Beijing’s house purchase policy, then you can start preparing to buy a house. The following are the steps for buying a house:

Determine the house purchase budget: First, you need to determine your house purchase budget, including the total purchase price, down payment, loan amount, etc.

Select the area and listings for buying a house: Choose the appropriate area and listings for buying a house based on your own budget for buying a house.

Understand the property information: After selecting the property, you need to know the detailed information of the property, including the area, orientation, decoration status, etc.

Sign a house purchase contract: After confirming the purchase of a house, you need to sign a house purchase contract with the homeowner to determine the purchase price, payment method, etc. of the house.

Pay down payment: After signing the house purchase contract, you need to pay down payment. The amount of down payment is determined according to the proportion of the total purchase price.

Apply for a loan: If a home buyer needs a loan to purchase a house, he or she needs to apply for a loan from the bank after paying the down payment.

Go through the transfer procedures: After completing the above steps, the home buyer needs to go through the transfer procedures and transfer the ownership of the house to his or her name.