Mainland developers are losing confidence in buying demand in the face of falling sales and expectations that the central government may announce more tightening measures, according to a survey by Standard Chartered Bank.
Fourteen out of 30 developers interviewed said they were 'less confident in market demand for apartments today than a month ago'.
While this left 16 developers reporting increased confidence, the poll indicated a clear deterioration in confidence since the bank's last survey, said Stephen Green, Stanchart's head of research for Greater China.
In the last survey, 23 respondents said they felt more confident about market demand.
The bank asked 30 developers in six cities for their views on prices, land banking, financing and sales, and their expectations for policy development. Only a few were listed companies, Green said.
This is the third of the bank's developer polls. The first two were published in July and November last year.
'The third edition ... reveals a sector which is under the weather, but still doing OK. Construction starts are not being delayed, but some sales launches are,' it reported.