PROPERTY SALES DIP 32.4%

The Land Registry recorded 3,998 sale and purchase agreements for all building units received for registration in February, down 32.4% from January and 47.1% lower year-on-year.

The total consideration for such agreements dropped 33.7% from January to $36.1 billion in February this year, and a 43.9% year-on-year decrease was recorded.

Of the agreements, 2,912 were for residential units, down 31.9% from January and 52.5% lower than a year ago.

The total consideration of residential units was $29.5 billion, a decrease of 32.1% compared with January and a drop of 48.2% from January 2021.

There were 291,830 land register searches last month.

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