(Yicai Global) Nov. 14 -- Total financing at Chinese real estate firms has topped CNY10 billion (USD1.4 billion) this month, according to new industry statistics from Centaline Property Research Center.

China Fortune Land Development led the way as regulators approved the public issuance of CNY8 billion in corporate bonds, according to a statement from the Beijing-based developer yesterday.

Judging from the recent financing activity, lending costs for most real estate players remains stable, CPRC Chief Analyst Zhang Dawei told China News Services.

Fujian-based Thaihot Group has also received the go-ahead to register an asset-backed bill for house-purchase retainage valued at CNY1.2 billion (USD200 million), while Bright Real Estate Group will transfer its asset-backed securities for house-purchase retainage to the tune of up to CNY700 million.

Another Fujian-based firm Yango Group will list corporate bonds valued at CNY1.1 billion on the Shenzhen bourse tomorrow with a face rate of 7.5 percent. Xiamen C&D issued ultra-short-term financing securities three times in early November, raising CNY1.5 billion in total.

Additionally, property developers including Binjiang Real Estate, Lujiazui Properties, Hua Yuan Property, Longjitaihe Group and Longfor Group have raised funds ranging from a few hundred million yuan to several billion this month.

Since the beginning of this year, sales of real estate have slowed, while payback rates among housing firms have dropped. Many real estate firms are feeling liquidity pressure due to peak corporate financing and debt repayment this year and next and restrictions on the illegal inflow of funds into the market.

Demand for financing has risen among property firms, Zhang said, adding that the situation is more urgent for those that were over-invested in the earlier stages.

Zhang expects this year to post the highest levels of capital pressure for the property firms seen in four years, and based on control measures implemented, the trend will continue into next year.