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Property sales down 28.9%

The Land Registry recorded 5,390 sale and purchase agreements for all building units for registration in August, down 28.9% from July and up 4.5% year-on-year.


The total consideration for sale and purchase agreements dropped 34.2% from July to $45.6 billion, representing a 7.4% year-on-year increase.


Of the agreements, 4,358 were for residential units, down 28.9% from July and a rise of 6.7% compared to the same month a year ago.


The total consideration for residential units was $40.2 billion, down 32.4% compared with July and 9.9% higher than August 2019.


There were 428,133 land register searches last month.

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