Beijing home market fast nearing stable phase

The residential property market in Beijing will reach a relatively stable level amid downside risks this year, according to an industry expert from Savills, an international real estate consulting company.

In 2017, both supply and demand in the residential property market in Beijing were restrained because of tightening regulatory policies, resulting in a year-long decline in market supply and transaction volume compared with previous years.

"The government wants to stabilize home prices, especially in Beijing," said Anthony McQuade, managing director of Savills for the Northern China market. "There might be some tweaking at the edges, but they will not stimulate the market too much."