The news comes as more real estate investment trusts are considering expanding their operations in China.
At the release of its half-year results to December 31, the Goodman group's chief executive, Greg Goodman, said the Chinese operations, based in Hong Kong, had performed well and the group was looking to expand when market conditions improved.
But in the short term the environment would remain tough. "A sustainable property market is out of sight," the Goldman Sachs analysts Thomas Deng and Kinger Lau wrote in a report.
Home prices in China fell 0.9 per cent in January, the second consecutive monthly decline and the longest losing streak since Beijing started issuing data in August 2005. Property prices more than quadrupled in five years as urban incomes rose.
