diff --git a/runtests/test/stdlib/testall/PropertiesAllTest.java b/runtests/test/stdlib/testall/PropertiesAllTest.java
new file mode 100644
index 00000000000..5b087567854
--- /dev/null
+++ b/runtests/test/stdlib/testall/PropertiesAllTest.java
@@ -0,0 +1,28 @@
+/*
+ * Copyright 2010-2012 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package stdlib.testall;
+
+import junit.framework.TestSuite;
+import test.properties.*;
+
+/**
+ */
+public class PropertiesAllTest {
+  public static TestSuite suite() {
+    return new TestSuite(PropertiesTest.class);
+  }
+}
diff --git a/stdlib/ktSrc/properties/Properties.kt b/stdlib/ktSrc/properties/Properties.kt
new file mode 100644
index 00000000000..d923dceb24f
--- /dev/null
+++ b/stdlib/ktSrc/properties/Properties.kt
@@ -0,0 +1,106 @@
+package std.properties
+
+import std.*
+import std.util.*
+import java.util.List
+import java.util.Map
+import java.util.HashMap
+import java.util.ArrayList
+
+class ChangeEvent(val source: Any, val name: String, val oldValue: Any?, val newValue: Any?) {
+    var propogationId: Any? = null
+
+    fun toString() = "ChangeEvent($name, $oldValue, $newValue)"
+}
+
+trait ChangeListener {
+    fun onPropertyChange(event: ChangeEvent): Unit
+}
+
+/**
+ * Represents an object where properties can be listened to and notified on
+ * updates for easier binding to user interfaces, undo/redo command stacks and
+ * change tracking mechanisms for persistence or distributed change notifications.
+ */
+abstract class ChangeSupport {
+    private var allListeners: List<ChangeListener>? = null
+    private var nameListeners: Map<String, List<ChangeListener>>? = null
+
+
+    fun addChangeListener(listener: ChangeListener) {
+        if (allListeners == null) {
+            allListeners = ArrayList<ChangeListener>()
+        }
+        allListeners?.add(listener)
+    }
+
+    fun addChangeListener(name: String, listener: ChangeListener) {
+        if (nameListeners == null) {
+            nameListeners = HashMap<String, List<ChangeListener>>()
+        }
+        var listeners = nameListeners?.get(name)
+        if (listeners == null) {
+            listeners = arrayList<ChangeListener>()
+            nameListeners?.put(name, listeners.sure())
+        }
+        listeners?.add(listener)
+    }
+
+    protected fun <T> changeProperty(name: String, oldValue: T?, newValue: T?): Unit {
+        if (oldValue != newValue) {
+            firePropertyChanged(ChangeEvent(this, name, oldValue, newValue))
+        }
+    }
+
+    protected fun firePropertyChanged(event: ChangeEvent): Unit {
+        if (nameListeners != null) {
+            val listeners = nameListeners?.get(event.name)
+            if (listeners != null) {
+                for (listener in listeners) {
+                    listener.onPropertyChange(event)
+                }
+            }
+        }
+        if (allListeners != null) {
+            for (listener in allListeners) {
+                listener.onPropertyChange(event)
+            }
+        }
+    }
+
+    fun onPropertyChange(fn: (ChangeEvent) -> Unit) {
+        // TODO
+        //addChangeListener(DelegateChangeListener(fn))
+    }
+
+    fun onPropertyChange(name: String, fn: (ChangeEvent) -> Unit) {
+        // TODO
+        //addChangeListener(name, DelegateChangeListener(fn))
+    }
+}
+
+/*
+TODO this seems to generate a compiler barf!
+
+    protected fun createChangeListener(fn: (ChangeEvent) -> Unit): ChangeListener {
+        return DelegateChangeListener(fn)
+    }
+
+    protected fun createChangeListener(fn: (ChangeEvent) -> Unit): ChangeListener {
+        return ChangeListener {
+            override fun onPropertyChange(event: ChangeEvent): Unit {
+                fn(event)
+            }
+        }
+    }
+
+}
+
+
+class DelegateChangeListener(val f: (ChangeEvent) -> Unit) : ChangeListener {
+    override fun onPropertyChange(event: ChangeEvent): Unit {
+        f(event)
+    }
+}
+
+
diff --git a/testlib/test/properties/PropertiesTest.kt b/testlib/test/properties/PropertiesTest.kt
new file mode 100644
index 00000000000..85c35121266
--- /dev/null
+++ b/testlib/test/properties/PropertiesTest.kt
@@ -0,0 +1,51 @@
+package test.properties
+
+import std.*
+import std.properties.*
+import std.util.*
+import stdhack.test.*
+import java.util.*
+import junit.framework.TestCase
+
+class Customer() : ChangeSupport() {
+    // TODO the setter code should be generated
+    // via KT-1299
+    var name: String? = null
+    set(value) {
+        changeProperty("name", $name, value)
+        $name = value
+    }
+
+    var city: String? = null
+    set(value) {
+        changeProperty("city", $city, value)
+        $city = value
+    }
+
+    fun toString() = "Customer($name, $city)"
+}
+
+class MyChangeListener() : ChangeListener {
+    val events = ArrayList<ChangeEvent>()
+
+    override fun onPropertyChange(event: ChangeEvent): Unit {
+        println("Property changed: $event")
+        events.add(event)
+    }
+}
+
+class PropertiesTest() : TestCase() {
+
+    fun testModel() {
+        val c = Customer()
+        c.name = "James"
+        c.city = "Mells"
+
+        val listener = MyChangeListener()
+        c.addChangeListener(listener)
+        c.name = "Andrey"
+        println("Customer $c and raised change events ${listener.events}")
+
+        assertEquals(1, listener.events.size(), "Should have received a change event ${listener.events}")
+    }
+}
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