BEIJING—China’s property sector, a major driver of economic growth, has weakened sharply this year as Beijing clamps down on speculators and indebted developers in a broad push to ease financial risks, with prices of new homes down for the first time in six years.
In the near term, many analysts expect authorities will try to stabilize the sector, which accounts for a quarter of gross domestic product by some measures, although there is uncertainty over which policy levers Beijing would pull.
