Property sales down 28.7% in June

Still, it increased 9.8% compared to the previous year.

A total of 5,245 sale and purchase agreements for all building units were logged by the Land Registry in June.

This figure represents a 28.7% decline from May but a 9.8% increase year-on-year (YoY).

The total consideration for these agreements dropped 34% from May to $41.1b, although it saw a 3.6% rise compared to last year.

For residential units, the registry logged 3,856 agreements in June. This is a 30.5% decrease from May but a 6.7% increase compared to June of the previous year. 

The total consideration for residential units stood at $34.5b, showing a 35.4% decline from May, yet a 2.6% increase YoY.

Additionally, the registry reported 356,843 land register searches conducted in June.