With the view to take some "steam" out of a property market that is virtually overheating, China has tightened the land-sale regulations which currently govern developers, under which these developers will now be required to deposit a minimum down-payment on land purchases from the Government.

The change in regulations has come after a vow taken by the authorities earlier this week in Beijing to "curb the overly fast surge" in property prices by increasing the supply of "cheap public housing and redeveloping slum areas".

The new regulations were officially posted for everyone to view and follow on Thursday, on the Ministry of Finance's website. A minimum down-payment of 50% on land purchases is now being demanded.

"It will require developers to be at least more rational when acquiring land. They must see how much cash they have in their pockets. The rules may not cause property prices to fall per se, but will at least stabilize them", said Matthew Fang, an analyst at Guosen Securities.

While many are cheering the Government's effort to curb the rising property prices, the plan is not without its share of critics. Some developers are of the opinion that the effect of the exercise will be "fairly limited".