Developers express grounds for optimism

In a recent Standard Chartered survey, 29 out of 30 Chinese developers expected property prices to rise. Of these, 23 anticipated a 10 percent increase in the next six months.

The residential market will remain robust in the second half of this year, the developers said, and 70 percent believe the worst has gone, according to China Youth Daily, citing a report based on the survey.

This is the eighth survey by Standard Chartered after they started to collect developers' opinions last year.

The survey showed the residential property market is gaining traction and more projects are commencing construction.

Half of the interviewed developers said their work has increased in the last three months and five others said the increase had been massive.

About 70 percent of the developers intended to buy land plots in the next three to six months, with 10 saying they have saw greater demand for land compared to three months ago.