BEIJING :China's support measures for its beleaguered property market will need"some time" to make an impact, a state-run newspaper cautioned on Wednesday, as investors laid bets on near-term stimulus to revive the sector.
"We should show more patience and confidence in the stabilisation and recovery of the property market as well as its continued stable and healthy development," the paper said. Last year's slump in the sector, until then a pillar of the world's second-largest economy, saw developers default on debt or bonds and suspend construction of presold housing projects.
Local governments have rolled out hundreds of measures since last year to lift demand. But market sentiment, initially buoyed by the scrapping of tough COVID-19 curbs in December, has proved to be short-lived.