Property sales decline 4.3% in March

The Land Registry recorded 3,828 property sales and purchase agreements in March.

The count of property sales and purchase agreements for all building units in Hong Kong was at 3,828 in March, down by 4.3% from February this year, a recent Land Registry data showed.

This number is also 57.8% lower compared to the property sales in March 2021, which recorded 9,067 property sales and purchase agreements for all building units.

Figures from Land Registry also indicated that the total consideration for such agreements went down 3.4% from February to $34.8b in March, and a 55.4% year-on-year decrease was recorded.

Of the number of agreements, 2,869 are residential units, down 1.5% from last month and 61.5% lower than a year ago.

The total consideration of residential units was at $26.9 billion, which dropped 8.6% compared with February and went down by 61.2% from March 2021.

There were also a total of 376,631 land register searches in March 2022.