Mainland property market cools off as regulations bite

The property market on the Chinese mainland cooled off in May after a torrid performance earlier in the year, due to increased regulatory intervention, experts said.

Zhang Dawei, chief analyst of property consultancy Centaline, said May witnessed a calm market and the trend seems to have continued during the three-day Dragon Boat holiday this month.

"The overall traded volume in May in first and second-tier cities dropped by 2 percent compared to April," Zhang said.