Analysts are suggesting that the rally seen in Chinese real estate stocks since Dec 3 could be at an end, based on continued fears that Beijing is expected to launch some form of property tax in the first half of the year.

Real estate companies dropped as much as 20 percent in value between June 1 and Dec 3, before gaining around 25 percent since then.

"China's stock market has rebounded from Dec 3, and the housing sector has performed well," said Li Daxiao, head of research at Yingda Securities, a Shenzhen-based brokerage.