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 (Jun 7), as investors laid bets on near-term stimulus to revive the sector.
The commentary by Economic Daily, which is backed by the cabinet, came as investors in property shares are torn between hopes that Beijing will roll out more supportive measures and disappointment that nothing has been unveiled since last week.
"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.
Supportive policies, from easing of curbs on home purchases, to reduction in financial pressure and greater financial support continue to be rolled out, it added, but warned, "It takes some time for the policies to take effect".
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.
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