Property sales fell by almost 21% in June

Over 6,290 sale and purchase deals for all units were received for registration.

A total of 6,290 sale and purchase agreements for all building units were logged for registration in June 2022, a 20.9% decrease from May and 32.9% lower on a yearly basis, the Land Registry said.

It also noted that the total consideration for these agreements went down by 31% from May to $53.2b in June, and a 42.6% year-on-year decrease was posted.

Of the number of agreements, 4,826 were for residential units, which is down by 22.2% from May and 36.4% lower than a year ago.

The total consideration of residential units was valued at $45.2b, a decline of 22.2% from May and a 44.2% decrease from June 2021.

In May 2022, there were 445,244 land register searches.