HK property sales dip 20.9% in Aug

The Land Registry recorded 7,875 sale and purchase agreements for all building units received for registration in August, down 20.9% from July but 46.1 % higher year-on-year.

The total consideration for such agreements dipped 25% from July to HK$70.4 billion in August, but a 54.5% year-on-year increase was recorded.

Of the agreements, 5,546 were for residential units, down 26.8% from July but up 27.3% compared with a year ago.

The total consideration of residential units was HK$54.5 billion, a drop of 30.7% compared with July and an increase of 35.5% from August 2020.

There were 517,073 land register searches last month.