Property sales up 63.8% in May

However, it’s 11.3% lower compared to the previous year.

Property sales in Hong Kong went up by 63.8% in May however it is 11.3% lower compared to the year before, according to the data by the Land Registry.

The total consideration for such agreements rose 84.3% from April to $77b in May, but a 12.1% YoY compared to the same time last year.

Of the agreements, 6,202 were for residential units, up 59.1% from April but 12.5% lower than a year ago. The total consideration of residential units was $58b, an increase of 65.1% compared to April but down 24.5% YoY.

There were 475,130 land register searches last month.