Property transactions declines 8.2% MoM in May

Year-on-year (YoY), it went down 33.5%.

The Land Registry documented 5,284 sale and purchase agreements for all building units.

In a statement, the government said the total consideration for such deals fell 30.1% from April to $44.6b in May, whilst a 42.1% decrease was recorded.

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

The total consideration of residential units was $36.8b down 29.8% compared with April and down 36.6% from May last year.

In May, there were 413,181 land register searches.