The effects of China's property market tightening measures are taking effect. Fresh figures that have just come to hand show the country's property developers are also feeling the pinch.

Industry analysts say tightening credit lines and lackluster buyer interest are likely to create a capital crunch.

Industry analysts say tightening credit lines and lackluster buyer interest are likely to create a capital crunch. Many property developers are scrambling to find finance, by selling off shares, land and development projects.

Hong Kong-listed Ever Grande Real Estate Group sold more than 130 million square meters of its housing project for 500 million U.S. dollars to Chinese Estate Group in May.

And back in March, Cofco-Property sold more than 9.7 million worth of China Merchants Securities shares. Under the deal, Cofco-Property earned more than 220 million yuan of profit.

Analysts say China's capital shortage in the second quarter will worsen, as operating capital in the sector is trapped in high investment outlay.