As confidence in the cover and investment markets dried up more than two years ago, the turmoil grew worse, further limiting the cash of developers.
The industry, which accounts for about 25 % of the second-largest economy in the world, has received a number of aid actions from Beijing in recent months.
However, some experts claim that more steps are required.
UBS predicted that property sales growth in big cities would probably remain poor in September, indicating a modest rebound in sales despite more encouraging measures to alleviate the housing crisis.
The market is tightly observing whether Country Garden, which owns projects all over the nation, will be able to avoid default once more by making payments at the last moment.
In the final days of a grace period, Country Garden made coupon obligations on the seaward markets in September after receiving approval from its inland creditors to extend yuan relationship payments.
However, the engineer has not yet paid a US$ 15 million promotion that is expected on September 17 and another US$ 40 million that, both have 30-day grace periods.