A general view of residential buildings in West Kowloon District, Hong Kong on April 11, 2023. (ANDY CHONG / CHINA DAILY)

HONG KONG – The Land Registry of Hong Kong recorded 5,284 sale and purchase agreements for all building units received for registration in May, down 8.2 percent compared with the previous month and 33.5 percent lower year-on-year.

The total consideration for such agreements dropped 30.1 percent from April to HK$44.6 billion in May, while a 42.1 percent year-on-year decrease was recorded, according to Land Registry data released on Friday.

ALSO READ: HK records 33.1% drop in property sales

Of the agreements, 4,003 were for residential units, down 12.7 percent from April and 35.5 percent lower than a year ago.

The total consideration of residential units was HK$36.8 billion, a decrease of 29.8 percent compared with April and down 36.6 percent from May last year.

READ MORE: Hong Kong's property sales up 43.8%

There were 413,181 land register searches last month.