PROPERTY SALES DOWN 16.4%

The Land Registry recorded 3,713 sale and purchase agreements for all building units received for registration in November, down 16.4% compared with October and 48.7% lower year-on-year.

The total consideration for such agreements fell 7.7% from October to $30.2 billion in November while a 52% year-on-year decrease was recorded.

Of the agreements, 2,731 were for residential units, down 13.2% from October and 49.5% lower than a year ago.

The total consideration of residential units was $25.9 billion, a decrease of 4.8% compared with October and down 49.6% from October last year.

There were 416,593 land register searches last month.

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