According to analysts, China's real estate market may not fully recover from its decline despite the government's "underwhelming" stimulus efforts, as buyer confidence remains sunken.

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According to analysts, China's real estate market may not fully recover from its decline despite the government's "underwhelming" stimulus efforts, as buyer confidence remains sunken. - SCMP

Quick Summary:

The latest government measures are merely a drop in the ocean’, and rebuilding homebuyers’ confidence in the presale system is a precondition for any revival, analysts say.

To bail it out, authorities on this month reduced down-payment ratios, cut mortgage interest rates and introduced the 300 billion yuan (US$41.4 billion) relending facility, which allows local state-owned enterprises to buy unsold homes they can then offer as affordable housing.

Now, few expect quick improvement.“It will be a long time before we see home prices rise to levels as high as in 2017 and 2018, unless there is dramatic inflation or quantitative easing,” Zhu said.“The United States took six to seven years to get out of the woods of an economic recession brought about by a property crisis, while Japan took 20 years.