BEIJING — Property prices are likely to start falling in the last quarter of the year as tightening measures for the sector continue, officials and analysts have said.

Dropping sales volume and stagnant prices could lead to a deeper price slump in the market, Minister of Land and Resources Xu Shaoshi said on Sunday.

"In about three months, the property market will probably reach a comprehensive correction and prices will fall in some areas. But it's hard to predict the extent of the price drop, which may vary from city to city," Xu was quoted by China News Service as saying at a conference in Dalian, Liaoning province.

The ministry will strengthen property management and clear up idle land to ensure land supply for affordable housing, he said.

Xu's latest remarks reflect the central government's resolve to curb excessive property prices, said Grant Ji, director of real estate service provider Savills (Beijing).

In late June, the Ministry of Housing and Urban-Rural Development held a forum in Qingdao and pushed for an individual housing information system to supervise mortgages and stem speculative activities in the housing market.

Similarly, Hu Cunzhi, chief planner of the Ministry of Land and Resources, said at a recent forum that the government will raise the threshold for developers to bid for land, asking them to set aside money that is 30 percent of the land's bottom price — as compared to 20 percent previously — during the bidding process.

"All these measures are aimed at managing people's expectations — the price will fall, as an expectation for loosening policies will lead to a strong rebound in prices," Ji said.

Since April, the government has launched a slew of measures to cool down the sizzling property market, including tightening bank lending as well as hiking down-payment and mortgage rates for second-home buyers.

Property sales volume has since plummeted, but prices remain stable.