According to economists, the problems in the Chinese real estate market will worsen this year.
Average property prices are likely to fall 1.3 percent in the first half of the year and stagnate for the year as a whole, according to a recent Reuters poll of analysts and economists.
Real estate sales are likely to fall by 10 percent in 2022.
At the same time, the experts assume that investments in the industry will fall by 2.5 percent.
For years, the once booming real estate market has supported the upswing of the world's second largest economy after the USA.
Problems arose last year when the crisis surrounding the highly indebted real estate group Evergrande unsettled and the authorities restricted the borrowing of property developers.
Since the beginning of this year, more than 100 cities have taken measures to stimulate demand - such as lower mortgage rates, lower down payments and subsidies.
Whether that will be enough to get the market moving again is uncertain.
Because the corona lockdowns in metropolises such as the capital Beijing and the economic center Shanghai are depressing demand.
Beijing extended work-from-home guidelines for many of its 22 million residents after all restaurants and gyms closed.
Shanghai wants to lift the two-month lockdown in the first half of June.
The pandemic has impacted Shanghai's real estate market as developers and brokers suspended their activities and many residents went into quarantine, said analyst Wang Xiaoqiang of real estate data provider Zhuge House Hunter.
This has led to a sharp drop in real estate sales.
Only nationwide measures to ease restrictions on financing and measures such as rehabilitation of run-down neighborhoods could stabilize the real estate market, said Liu Yuan, head of research at China's largest real estate agent Centaline.