*Nikkei sets 12-day losing streak, longest since 1954

*Nikkei sheds 8.4 percent during the 12-day losing run

*Property firms hit on credit fears

(Adds trade volume, detail)

By Aiko Hayashi

TOKYO, July 4 (Reuters) - The Nikkei share average fell 0.2 percent on Friday to set its longest losing streak in more than half a century, dragged down by property stocks such as Sumitomo Realty & Development (8830.T: Quote, Profile, Research) on credit fears.

Shares of apartment developer Urban Corp 8868.T tumbled nearly 30 percent, leading a sharp decline among some midsize property companies on speculation they could be risky investments following a handful of recent bankruptcies in the sector.

"A 12-day losing streak sounds big but there were days when the market didn't fall much and the amount of decline is only about 1,200 points. It's just a matter of words," said Masaru Hamasaki, senior strategist at Toyota Asset Management.

"Still, we have to stay alert as Japanese stocks couldn't avoid being sharply hit if a spiral of interest rate hikes in Europe, the expansion of difference in interest rates, a weaker dollar, high oil prices and weak stock prices emerges."