Property sale and purchase deals down 24.7% in H1

The total consideration for these agreements also dipped 8.8% to $269.02b.

The number of sale and purchase agreements (SPA) for all building units received for registration in H1 crashed 24.7% YoY to 32,749, data from the Land Registry revealed.

Compared to the figures seen in H2 2019, the number of SPAs inched up 4.6% in H1. The total consideration for these agreements amounted to $269.02b, which showed an 8.8% dip from H2 2019 and fell 32.3% YoY.

The number of assignments of building units in H1 slid 21.5% YoY to 35,038. Total consideration for these assignments was down 31.9% YoY to $249.86b.

Further, the Land Registry reported that the number of searches of land registers made by the public in the same period slipped 7.9% YoY to about 2.37 million.