China's Future Land warns of property developer price cuts as cooling steps bite

Beijing

PROPERTY developers in China could implement price cuts sooner than expected as sales slow and credit conditions tighten, raising the potential need for a state-imposed price floor, according to a senior executive of Future Land.

China has tightened rules for real estate businesses seeking to raise funds and introduced a flurry of measures aimed at dampening speculative demand and contain the amount of capital flowing into the property market.