Steps afoot to remedy property slump

After property's traditional peak sales season in March and April, the momentum of China's real estate market has been showing signs of weakening of late, raising the need for more forceful policy support to prop up sustainable recovery in the second half, analysts said.

Amid changes in the supply-demand relationship in the sector, policymakers should now focus on both stimulating demand and improving the quality of supply to achieve long-term stability, they added.

The average new home price in 70 cities monitored fell 0.22 percent in May compared to the previous month, while the second-hand market price declined by 0.5 percent, according to data released by the National Bureau of Statistics in June.