After the downturn in 2008，the secondary residential market in Beijing has gone through initial recovery，short boom，and adjustment at high level. The mindset of consumers also shifted from “following others” to “be panic”. In the first half of 2009，market environment was very favorable for home buyers. Housing demand was stimulated，so as to promote the rapid development of housing market and to spur the economic growth. In the second half of 2009，policies were slightly adjusted. Financial risk management was strengthened；mortgage policy was also tightened to curb investment demand such as second-home purchase.

Property policies will continue to support self-living demand，as well as upgrading demand. However for investment and speculative demand，policies will be tightened somehow. It is estimated that property market will remain at high level，and the transaction volume will be less than that in 2009.