Hong Kong's property sales plunged 39%

Only 70,503 sale and purchase deals were recorded.

According to a report, the Land Registry announced today that there were 70,503 sale and purchase agreements for all building units in 2013, a year-on-year drop of 39%, and a 35.2% fall on 2011.

The total consideration for these agreements was $456.28 billion, down 30.2% year-on-year, and a 22.4% fall on 2011.

The number of assignments of building units last year was 98,928, down 16.3% year-on-year, and a 33.7% fall on 2011.

The total consideration for these assignments was $559.25 billion, down 4.9% year-on-year, and a 21.7% fall on 2011.

The public made 4.49 million land-register searches, down 12.2% on 2012, and a 12.9% fall on 2011.