Property sales dropped in 2023

Sale and purchase agreements dropped 2.7% YoY in 2023.

The government received 58,035 sale and purchase agreements for all building units in 2023, which is a 2.7% YoY decrease and is 39.6% less compared with 2021.

The total consideration for the 2023 agreements was $477.9b, which is a 13.8% YoY decline and a 47.9% drop compared with 2021.

Meanwhile, the number of assignments of building units for 2023 was 86,444, an increase of 0.5% on the previous year but 26.4% lower than in 2021.

The total consideration for these assignments was $589.83b, down 14.7% compared with 2022 and 36.2% less than the figure for 2021.

In addition, there were about 4.6m land register searches made in 2023.