Hong Kong property sales down by 32.4% MoM in February 

Total consideration for sale and purchase of properties also went down by 33.7% MoM.

The number of sale and purchase agreements for all building units received for registration in February reached 3,998, which is 32.4% lower than January this year and 47.1% lower when compared year-on-year (YoY), data from the Land Registry showed.

The total consideration for the sale and purchase agreements in February was at $36.1b, declining 33.7% month-on-month, and 43.9% from February last year.

Of the total sale and purchase agreements, 2,912 were from residential units which are 31.9% lower than January this year and 51.5% YoY.

The Land Registry data also showed that the total consideration for the sale and purchase agreements for residential units was at $29.5b, which is 32.1% lower than January this year and 48.2% below compared with February 2021. 

Moreover, the figures also showed that the 12-month moving average for February was 7,689, which is 3.7% below the 12-month moving average for January 2022 but 16.9% above for February last year.

This figure scrapped the sale and purchase agreements relating to sales of units under the Home Ownership Scheme, the Private Sector Participation Scheme, and the Tenants Purchase Scheme, amongst others, unless the premium of the unit concerned has been paid after the sale restriction period.