November 21, China’s tough property regulations, which have been in place for over a year, are having an ever stronger impact on the real estate market, which is showing clear signs of slowing.

Prices of newly built houses in 34 of the 70 medium and large-sized cities monitored by the National Bureau of Statistics fell year-on-year in October

According to the bureau’s data, house prices in first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- declined for the first time this year in October. Prices were down 0.1%, 0.3%, 0.2% and 0.1%, respectively, from a year earlier.

With the slowdown in housing prices spreading throughout China, market watchers believe the real estate market is close to a tipping point.