Property sales dip 6.8% YoY in December

Total agreements recorded for the month were only at 7,076.

Property sales for November dipped by 6.8%% year-on-year (YoY) in December 2021, with only 7,076 sale and purchase agreements recorded for the month.

This figure also represents a 2.3% decrease from November 2021’s record.

Out of the total agreements, the Land Registry said 5,145 were for residential units; this figure is 15.2% lower compared to the same period in 2020.

On the other hand, total consideration for such agreements rose by 24.9% YoY and 39.4% month-on-month (MoM) to $87.8b in December.

For residential units, the total consideration was $48.5b, a decrease of 5.4% MoM and 17.4% YoY.

Meanwhile, land register searches were at 436,325 last month.