Land deals slow, prices drop

Property developers turn cautious on stricter regulations, tighter credit lines

Against the backdrop of tightening financing and home-buying measures, property developers are turning cautious on land purchases, resulting in unusual declines in both prices and number of transactions in the land market, experts said.

As per existing trends, property developers tend to purchase more land in a low market, but the past quarter lost steam on downtrend in both deal volumes and prices.