Property sales down 33.1%

The Land Registry recorded 5,755 sale and purchase agreements for all building units received for registration in April, down 33.1% compared with March and 18.6% higher year-on-year.


The total consideration for such agreements dropped 7.5% from March to $63.7 billion in April, while a 52.5% year-on-year increase was recorded.


Of the agreements, 4,583 were for residential units, down 31.5% from March and 17.6% higher than a year ago.


The total consideration of residential units was $52.4 billion, a decrease of 9.5% compared with March and up 49% from April last year.


There were 349,372 land register searches last month.