Property sales up 6.1% in July

Total consideration for the sales amounted to $94b.

The number of sale and purchase agreements for all building units rose 6.1% to 9,957, compared to the previous month, the Land Registry reported.

The total consideration for the sale and purchase agreements in July was $94b, higher by 1.5% month-on-month and by 35.6% year-on-year.

The 12-month moving average for July was 7,774, which is a 2.6% increase from the 12-month moving average for June 2021.

Of the total sales, 7,579 were for residential units, slipping by 0.2% compared to the previous month.

The total consideration for sale and purchase agreements of residential units was $78.6b, which also declined by 2.8% month-on-month.

Meanwhile, the number of searches of land registers made by the public in July was 530,252, inching up by 2.2% against June. It is also 13.4% year-on-year increase.