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Property sales dip 27.5%

The Land Registry recorded 3,189 sale and purchase agreements for all building units received for registration in February, down 27.5% compared with January and 46.7% lower year-on-year.   The total consideration for such agreements in February fell 32.9% from January, to $22.6 billion, while a 48.5% year-on-year decrease was recorded.   Of the agreements, 2,375 were for residential units, down 31.7% from January and 44.5% lower than a year ago.   The total consideration for residential units was $19.1 billion, a decrease of 31.3% compared with January and down 47.9% year-on-year.   There were 276,910 land register searches last month.

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