Taking the road to sustained growth

Concrete measures are needed to keep real estate firms in the pink of health, reports Wu Yiyao in Shanghai.

Though real estate sales are expected to be given a short-term boost from the relaxations in mortgage down payment and property transaction tax requirements, more concrete steps are necessary to maintain the growth momentum over the long term, industry experts said on Tuesday.

The policy easing moves announced by the government on Monday are seen as a vital prop for an industry that has been behest with flagging sales, lackluster demand and dwindling returns despite the fact that the number of beneficiaries are still limited, said Zhang Dawei, chief analyst with property information provider Centaline.