China’s real estate sector is projected to remain troubled until at least the second half of 2025, despite recent stimulus measures aimed at stabilizing the market. Analysts from Goldman Sachs, S&P Global Ratings, and Morgan Stanley suggest that property prices may stabilize by late 2025, but will not see significant recovery in sales or new construction until 2027. The government’s latest efforts, led by President Xi Jinping, include financial support for developers and attempts to reduce unsold housing inventory, which has reportedly reached around 20 million unfinished homes. However, analysts warn that without substantial additional fiscal stimulus – estimated at about 8 trillion RMB ($1.12 trillion) – the downturn could extend for another three years. Property sales have already seen a significant decline, and while recent measures have slightly improved confidence, a full recovery appears unlikely, with projections indicating that property sales could drop below half of their 2021 levels.