Property sales up 4.6% in June

Total sales amounted to $92.6b during the month.

The number of sale and purchases agreements for all building units in June reached 9,381, reflecting a 4.6% month-on-month (MoM) and 13.7% year-on-year (YoY) increases.

The total consideration during the month amounted to $92.4b, 5.7% higher compared to the previous month, the Land Registry reported.

It is also a 31.7% increase from the same month in 2020.

Of the 9,381 sales and purchase agreements, some 7,591 were for residential units, which 7.2% and 8.6% more than the agreements recorded in May and in June 2020, respectively.

The total consideration for residential units also increased 5.3% MoM to $80.9b in June. This also rose 24.8% YoY.

The Land Registry also noted that the number of searches of land registers made by the public in June was 518,795, up 0.6% compared to May and 8.7% from June 2020.