This photo taken on Aug 3, 2019 shows a general view of residential and commercial buildings in the Kowloon district of Hong Kong, with the skyline of Hong Kong Island past Victoria Harbour in the distance. (ANTHONY WALLACE / AFP)
HONG KONG – The Land Registry recorded 3,565 sale and purchase agreements for all building units received for registration in Hong Kong in December, down 4.0 percent from November, and a steep decline of 49.6 percent year-on-year.
The total consideration for such agreements declined 14.4 percent from November to HK$25.9 billion ($3.31 billion) in December, and a 70.5 percent year-on-year decrease was recorded.
Of the agreements, 2,507 were for residential units, down 8.2 percent from November
Of the agreements, 2,507 were for residential units, down 8.2 percent from November. It is 51.3 percent lower than a year ago.
The total consideration of residential units was HK$21.0 billion, a decrease of 18.6 percent compared with November and down 56.6 percent from December last year.
READ MORE: CBRE: HK property market to recover quickly after pandemic
There were 323,100 land register searches last month.