Property sales drop nearly 40% in 2022

The Land  Registry received only 59,619 sale and purchase agreements.

The Land Registry reported it received only 59,619 sale and purchase agreements in 2022, down by 38% year-on-year.

This also represented an 18.7% decline in comparison to 2020 figures. 

The total consideration amounted to $554.46b, down 39.6%YoY and an 11.8% decrease compared with 2020.

Read more: Property sales fall 8.1% MoM in October

Moreover, the number of assignments of building units for 2022 was 85,976, down 26.8%YoY and 3.4% lower than 2020.

The total consideration for these assignments was $691.35b, down 25.2%YoY, but 5.1% more than 2020.