China plans new measures to boost property market

According to Bloomberg, China is devising a fresh set of measures to bolster the property market as current measures failed to maintain a rebound in the sector.

Accordingly, regulators are reportedly considering reducing downpayments, lowering agent commissions on transactions and relaxing restrictions for residential purchases.

In addition to these potential measures, the government may refine and extend certain policies from the 16-point rescue package introduced last year.

While China’s property sector has managed to evade a complete collapse, it continues to exert a significant negative impact on the world’s second-largest economy. Recent indicators point to a resurgence of weakness in the residential market, with the growth rate of home sales decelerating in May.