Chinese developers’ shares rallied on Monday, with China Vanke Co. hitting a six-month high, on expectations authorities will unveil more measures to support the nation’s slumping property market.

A gauge of property shares rose as much as 3%, the biggest move over a month, led by developers including China Vanke, Sunac China Holdings Ltd. and Longfor Group Holdings Ltd. China Vanke shares in Hong Kong surged as much as 16%, while Sunac China soared as much as 13%.

Analysts said the gains reflect growing expectations of further policy support. Meanwhile, Shanghai announced policies to bolster housing demand, such as easing buying restrictions in the suburbs.

Additional measures could come as early as September, with authorities preparing to speed up urban renovation projects and bolster the struggling property market, the Securities Daily reported, citing an industry expert.

China’s financial hub of Shanghai eased home-buying rules in the latest attempt by authorities to contain the nation’s prolonged property crisis.

Eligible residents, including those from outside Shanghai, can now buy an unlimited number of homes in the outer suburbs, according to a statement Monday. Non-residents who have paid pensions for three years can now purchase new homes in urban areas, instead of only being allowed to buy existing residences there.

China is seeking to bolster the domestic economy and offset the threat to exports from US tariffs. The housing slump has dragged on for four years with little sign of improvement, even after stimulus measures were unveiled last September.

Premier Li Qiang last week reiterated the need for action to stop the decline in the real estate market at a meeting of the State Council, or China’s cabinet. The central government flagged broad support during the National People’s Congress in March, when it vowed to “fully unleash” demand from buyers who need homes or seek to improve their housing conditions.

Shanghai’s move follows similar easing by the capital city Beijing in early August, which also allowed eligible residents to buy an unlimited number of homes outside the fifth ring roads, widely considered suburban areas.