Property sales dip 10.4%

The Land Registry logged 4,938 sale and purchase agreements for all building units received for registration in January, down 10.4% compared with December 2024 and up 12.2% year-on-year.

The total consideration for such agreements in January dropped 14.2% from the previous month to $36.7 billion, representing a 9.1% year-on-year growth.

Of the agreements, 3,626 were for residential units, amounting to an 11.6% decrease from last December and a 4.3% rise from a year ago.

The total consideration for residential units was $26.7 billion, down 17.9% compared with December 2024 and 3.8% lower year-on-year.

There were 334,421 land register searches last month.