Real estate developers listed in Shanghai, Shenzhen and Hong Kong plunged on Monday as restrictive residential property sales policies were extended further across the nation and greater policy tighetening is expected over the next few months.

A massive 108 out of 116 A-share listed developers saw their stock prices decline, according to Shanghai-based market information services provider WIND Information.

Hong Kong-listed developers based in mainland cities also saw sharp declines, with China Aoyuan dropping 18.64 percent to HK$4.19 ($0.54) and Country Garden down 10.9 percent to HK$12.1.