The asset-liability ratio of listed property developers saw a slide in 2012, the first drop since 2009, according to a TOP 10 research report by the China Index Academy and Real Estate Institute of Tsinghua University.

The ratio of listed property developers in Shanghai and Shenzhen stood at 62.27 percent by the end of 2012, down 1.16 percentage points on the previous year.

The ratio for those listed in Hong Kong was 67.05 percent on average, a drop of 0.38 percentage points year-on-year, according to the report.

"Profitability is also expected to rebound this year, due to their improved cost management," said Jiang Yunfeng, research director of China Index Academy.

The gross profit margin of listed property developers stood at 37.95 percent in the first quarter, while their net profit margin stood at 14.13 percent, both higher than the same period last year, the report showed.