Property sales down for fourth straight month in September

Sale and purchase agreements dropped to 4,090 transactions.

Sale and purchase agreements for all building units further diminished by 14.8% YoY to 4,090 transactions compared to 6,688 transactions recorded a year earlier, data from the Land Registry revealed.

The total consideration for such agreements fell 20% YoY to $36.4b, a 14.2% decline from August.

Also read: Property sales down for third straight month in August

Of the agreements, 3,447 were for residential units in September, down 15.6% MoM from August and a drop of 1.5% YoY compared to a year earlier. Total consideration for residential units amounted to $27.7b, a 24.4% MoM decline compared with August and 25.4% YoY lower than September 2018.