Easing seen for property policies

Industry insiders anticipate eased policies covering the realty market after the Government Work Report delivered by Premier Li Keqiang on Thursday featured a softer tone on the industry.

The report omitted any mention of "curbing investment and speculative demand", which had appeared in previous reports, and mentioned only "people's demand for housing for personal use and second homes", which was interpreted by market players as a signal of further policy easing and other steps to boost demand.

"We believe the softer tone paves the way for further policy easing, including a cut in the down payment requirement. The government also plans to increase support for government-subsidized housing, including via the purchase of existing housing stock," said Wang Tao, chief economist in China with UBS AG.