Property sales fall 8.1% MoM in October

Year-on-year sales declined by 28.9%

The property segment saw lower sales anew in October, with only 4,443 building units sold.

According to the Land Registry, the total sale for August was 8.1% lower than September's and 28.9% lower compared to the same period last year.

Of those sold, 3,148 were residential units. The number of sold residential units was down 18.8% from September  and 32.2% lower than a year ago.

As the number of sold residential units saw a decline, the total consideration also dipped in October, decreasing 6.6% MoM and 45.3% YoY to $27.2b.

Overall, total considerations for all properties sold during the month declined by 5.8% MoM and 46.6% YoY to $32.8b.