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COMMERCIAL PROPERTY, RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong
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Property deals down 5.5% to 74,804 units in 2019

December deals crashed 41.7% to 3,908.

The volume of sale and purchase agreements for all building units declined 5.5% YoY to 74,804 in 2019, according to the Land Registry. The total consideration for these agreements slipped 6.6% YoY to $692.44b.

Also read: Property sales jumped 32% to 6,710 units in November

The number of assignments of building units fell 12.7% YoY to 91,874, and the total consideration for these assignments sliding $764.65b.

In December, the volume of sale and purchase agreements plunged 41.7% MoM to 3,908. On a YoY basis, however, it rose 28.6%. The total consideration for such agreements crashed 43% MoM and declined 18.6% YoY to $35b.

On a monthly basis, agreements for residential units plummeted 44.7% to 3,184, but on a yearly basis soared 54.6%. The total consideration for these units hit $31.3b, falling 34.6% MoM but rising 29.9% YoY.

Land register searches also fell 4.1% YoY to 5.05 million in 2019, with December recording 365,773 searches. 

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