Property sales down 27.4% in April 2011

The Land Registry received 10,386 sale and purchase agreements for all building units.

The property sales went down 23.1% month-on-month, according to the Land Registry's report on the Hong Kong Information Services Department.

The 12-month moving average for April was 13,011, down 2.4% on that for March, and 0.4% below that for April last year.

Of the agreements, 7,635 were for residential units, down 27% on March and 37.6% on April last year.

The total consideration for sale and purchase agreements in respect of residential units was $39 billion, down 24.8% on March and 26.8% on April last year.

There were 444,632 land searches in April, down 21% on March, and 10.7% on April last year.