While a dearth of official statistics makes it difficult to gain a comprehensive view, checks by industry watchers suggest that the rebound is fading in tier-1 cities.
The sputtering recovery underscores China’s struggle to arrest a record housing-market slump that’s stifling economic growth and worsening a debt crisis among developers. After the central government greenlit plans to cut the floor of the downpayment ratio on Aug. 31, the country’s four biggest cities all quickly rolled out easing measures.
Investors have welcomed the policy steps, with some speculating that more may be on the horizon. A Bloomberg gauge of Chinese developer shares has gained about 14% since policymakers announced the moves.
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