diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java
index fce234055e0..c406b0dd2f7 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java
@@ -24,6 +24,7 @@ import org.jetbrains.kotlin.codegen.context.*;
 import org.jetbrains.kotlin.codegen.state.GenerationState;
 import org.jetbrains.kotlin.codegen.state.JetTypeMapper;
 import org.jetbrains.kotlin.descriptors.*;
+import org.jetbrains.kotlin.descriptors.annotations.AnnotationDescriptor;
 import org.jetbrains.kotlin.descriptors.annotations.AnnotationUseSiteTarget;
 import org.jetbrains.kotlin.load.java.JvmAbi;
 import org.jetbrains.kotlin.psi.*;
@@ -110,8 +111,12 @@ public class PropertyCodegen {
         }
         else {
             assert declaration != null : "Declaration is null for different context: " + context;
-            if (!generateBackingField(declaration, descriptor)) {
-                generateSyntheticMethodIfNeeded(descriptor);
+
+            List<AnnotationDescriptor> propertyTargetedAnnotations =
+                    descriptor.getAnnotations().getUseSiteTargetedAnnotations(AnnotationUseSiteTarget.PROPERTY);
+
+            if (!generateBackingField(declaration, descriptor) || !propertyTargetedAnnotations.isEmpty()) {
+                generateSyntheticMethodIfNeeded(descriptor, !propertyTargetedAnnotations.isEmpty());
             }
         }
 
@@ -210,8 +215,8 @@ public class PropertyCodegen {
 
     // Annotations on properties without backing fields are stored in bytecode on an empty synthetic method. This way they're still
     // accessible via reflection, and 'deprecated' and 'private' flags prevent this method from being called accidentally
-    private void generateSyntheticMethodIfNeeded(@NotNull PropertyDescriptor descriptor) {
-        if (descriptor.getAnnotations().isEmpty()) return;
+    private void generateSyntheticMethodIfNeeded(@NotNull PropertyDescriptor descriptor, boolean hasPropertyTargetedAnnotations) {
+        if (descriptor.getAnnotations().isEmpty() && !hasPropertyTargetedAnnotations) return;
 
         ReceiverParameterDescriptor receiver = descriptor.getExtensionReceiverParameter();
         String name = JvmAbi.getSyntheticMethodNameForAnnotatedProperty(descriptor.getName());
@@ -220,7 +225,7 @@ public class PropertyCodegen {
         if (!isTrait(context.getContextDescriptor()) || kind == OwnerKind.TRAIT_IMPL) {
             int flags = ACC_DEPRECATED | ACC_FINAL | ACC_PRIVATE | ACC_STATIC | ACC_SYNTHETIC;
             MethodVisitor mv = v.newMethod(OtherOrigin(descriptor), flags, name, desc, null, null);
-            AnnotationCodegen.forMethod(mv, typeMapper).genAnnotations(descriptor, Type.VOID_TYPE);
+            AnnotationCodegen.forMethod(mv, typeMapper).genAnnotations(descriptor, Type.VOID_TYPE, AnnotationUseSiteTarget.PROPERTY);
             mv.visitCode();
             mv.visitInsn(Opcodes.RETURN);
             mv.visitEnd();
diff --git a/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/Errors.java b/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/Errors.java
index cfffb43e7b4..40af01971d1 100644
--- a/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/Errors.java
+++ b/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/Errors.java
@@ -133,6 +133,7 @@ public interface Errors {
 
     DiagnosticFactory0<PsiElement> INAPPLICABLE_FIELD_TARGET = DiagnosticFactory0.create(ERROR);
     DiagnosticFactory0<PsiElement> INAPPLICABLE_FIELD_TARGET_NO_BACKING_FIELD = DiagnosticFactory0.create(ERROR);
+    DiagnosticFactory0<PsiElement> INAPPLICABLE_PROPERTY_TARGET = DiagnosticFactory0.create(ERROR);
     DiagnosticFactory0<PsiElement> INAPPLICABLE_GET_TARGET = DiagnosticFactory0.create(ERROR);
     DiagnosticFactory0<PsiElement> INAPPLICABLE_SET_TARGET = DiagnosticFactory0.create(ERROR);
     DiagnosticFactory0<PsiElement> INAPPLICABLE_TARGET_PROPERTY_IMMUTABLE = DiagnosticFactory0.create(ERROR);
diff --git a/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/rendering/DefaultErrorMessages.java b/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/rendering/DefaultErrorMessages.java
index af9e61bbdf0..e052a46a050 100644
--- a/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/rendering/DefaultErrorMessages.java
+++ b/compiler/frontend/src/org/jetbrains/kotlin/diagnostics/rendering/DefaultErrorMessages.java
@@ -126,6 +126,7 @@ public class DefaultErrorMessages {
 
         MAP.put(INAPPLICABLE_FIELD_TARGET, "''@field:'' annotations could be applied only to property declarations");
         MAP.put(INAPPLICABLE_FIELD_TARGET_NO_BACKING_FIELD, "Property has neither a backing field nor a delegate");
+        MAP.put(INAPPLICABLE_PROPERTY_TARGET, "''@property:'' annotations could be applied only to property declarations");
         MAP.put(INAPPLICABLE_GET_TARGET, "''@get:'' annotations could be applied only to property declarations");
         MAP.put(INAPPLICABLE_SET_TARGET, "''@set:'' annotations could be applied only to property declarations");
         MAP.put(INAPPLICABLE_TARGET_PROPERTY_IMMUTABLE, "Property must be mutable");
diff --git a/compiler/frontend/src/org/jetbrains/kotlin/psi/JetAnnotationUseSiteTarget.kt b/compiler/frontend/src/org/jetbrains/kotlin/psi/JetAnnotationUseSiteTarget.kt
index 15a9577b459..3973aa3c191 100644
--- a/compiler/frontend/src/org/jetbrains/kotlin/psi/JetAnnotationUseSiteTarget.kt
+++ b/compiler/frontend/src/org/jetbrains/kotlin/psi/JetAnnotationUseSiteTarget.kt
@@ -38,6 +38,7 @@ public class JetAnnotationUseSiteTarget : JetElementImplStub<KotlinPlaceHolderSt
         return when (node.getElementType()) {
             JetTokens.FIELD_KEYWORD -> AnnotationUseSiteTarget.FIELD
             JetTokens.FILE_KEYWORD -> AnnotationUseSiteTarget.FILE
+            JetTokens.PROPERTY_KEYWORD -> AnnotationUseSiteTarget.PROPERTY
             JetTokens.GET_KEYWORD -> AnnotationUseSiteTarget.PROPERTY_GETTER
             JetTokens.SET_KEYWORD -> AnnotationUseSiteTarget.PROPERTY_SETTER
             else -> throw IllegalStateException("Unknown annotation target " + node.getText())
diff --git a/compiler/frontend/src/org/jetbrains/kotlin/resolve/ModifiersChecker.java b/compiler/frontend/src/org/jetbrains/kotlin/resolve/ModifiersChecker.java
index 7d8025df84f..3cb7c17d5f3 100644
--- a/compiler/frontend/src/org/jetbrains/kotlin/resolve/ModifiersChecker.java
+++ b/compiler/frontend/src/org/jetbrains/kotlin/resolve/ModifiersChecker.java
@@ -234,6 +234,9 @@ public class ModifiersChecker {
                         break;
                     case FILE:
                         throw new IllegalArgumentException("@file annotations are not allowed here");
+                    case PROPERTY:
+                        reportIfNotPropertyDescriptor(descriptor, annotation, INAPPLICABLE_PROPERTY_TARGET);
+                        break;
                     case PROPERTY_GETTER:
                         reportIfNotPropertyDescriptor(descriptor, annotation, INAPPLICABLE_GET_TARGET);
                         break;
diff --git a/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/AnnotationUseSiteTarget.kt b/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/AnnotationUseSiteTarget.kt
index c951c0424f5..af2fee5f27f 100644
--- a/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/AnnotationUseSiteTarget.kt
+++ b/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/AnnotationUseSiteTarget.kt
@@ -19,6 +19,7 @@ package org.jetbrains.kotlin.descriptors.annotations
 public enum class AnnotationUseSiteTarget(renderName: String? = null) {
     FIELD(),
     FILE(),
+    PROPERTY(),
     PROPERTY_GETTER("get"),
     PROPERTY_SETTER("set");