China property market shows little signs of revival despite stimulus

China's troubled property market is showing little signs of a recovery in the short term despite a series of government stimulus measures to help revive activity in the sector which makes up a quarter of the nation's economic output. Homebuyers, wary of the uncertain economic outlook, have remained on the sidelines, while property developers and agents said sales were still soft following a short-lived burst of activity in major cities like Beijing and Shenzhen. Beijing resident Daniel Song, who was given 3 million yuan ($410,043) by his parents in the beginning of the year to buy an apartment, recently gave up on the idea, concerned about his income security.