© Reuters. FILE PHOTO: Unfinished apartment buildings stand at a residential complex developed by Jiadengbao Real Estate in Guilin, Guangxi Zhuang Autonomous Region, China September 17, 2022. REUTERS/Eduardo Baptista/File Photo
Beijing resident Daniel Song, who was given 3 million yuan by his parents in the beginning of the year to buy an apartment, recently gave up on the idea, concerned about his income security. But the support measures have yet to have any notable impact among buyers still grappling with low confidence. China's new home prices fell for the third straight month in September, down 0.2% from August, a traditionally peak home buying period, official data showed on Thursday.
"The overall size of the pie is still the same," Lee said, referring to the market demand, adding some of the September purchase was delayed from the previous two months due to market expectations of stimulus policies."To make it bigger it'll have to depend on an economic recovery." "In the beginning of the year, the industry expected a bad first-half but a better second-half. But the reality is, it's a bad first-half and an even worse second-half.""Recent property easing measures may have only led to more supply of homes, adding more downward pressures on home prices, given still-sluggish housing demand. The moderate recovery in top-tier cities could continue to drain housing demand in low-tier cities," it said.