Hong Kong-listed mainland property shares rallied yesterday, a day after Beijing unveiled new measures to support the ailing market.

However, analysts said home prices could continue to soften in coming months and that confidence would only return when home buyers got a better picture of the nation's economic outlook.

Beijing will give directions to local governments to cut the tax on home buyers and loosen liquidity constraints for developers. It is hoped these will lure buyers into the market.

South China Morning Post