The purchase restriction in Yongqing is expected to last for at least another two years. This decision is based on the ongoing real estate market stabilization efforts by the local government. According to the Yongqing Municipal Bureau of Housing and Urban-Rural Development, the restriction was initially implemented in 2021 to curb speculative buying and to manage the rapid increase in property prices. The bureau has indicated that the restriction will remain in place until the market shows signs of sustained stability.

The rationale behind the prolonged restriction is rooted in the need to address the housing affordability crisis and to prevent a potential bubble in the real estate sector. Data from the National Bureau of Statistics of China reveals that Yongqing's property prices have increased by 15% over the past two years, significantly outpacing the national average. This rapid growth has been attributed to a combination of factors, including low-interest rates, increased investment, and a limited supply of housing units.

To further illustrate the situation, a report by the China Real Estate Association (CREA) noted that Yongqing's housing inventory-to-sales ratio stands at 1.2, which is considered a high level of unsold properties. This indicates that the market is oversupplied, and the restriction is a measure to prevent further price inflation and to encourage a more balanced market.

Moreover, the restriction has been effective in slowing down the pace of property purchases. According to a survey conducted by the Yongqing Real Estate Research Center, the number of new property transactions has decreased by 30% since the implementation of the restriction. This reduction in demand has helped to stabilize prices and has allowed the market to adjust to a more sustainable level.

In conclusion, the purchase restriction in Yongqing is likely to last for at least two more years. This decision is driven by the need to stabilize the real estate market, address housing affordability issues, and prevent a potential bubble. The data supports the continuation of the restriction, as it has been effective in managing the market's growth and ensuring a more balanced environment for both buyers and sellers.