Hong Kong's property sales soared 119.1%

Developers raked in a whopping $59.1b.

The number of sale and purchase agreements for all building units in February was 9,643, up 16.2% on January, and up 77.8% year-on-year, the Land Registry announced today.

The total consideration for these agreements was $59.1 billion, up 17.9% on January, and up 119.1% year-on-year.

The total consideration for these agreements in residential units was $38.7 billion, up 35.6% on January and up 103.3% year-on-year.

The public made 336,022 land-register searches, down 26.7% on January, and down 16.5 % year-on-year.