A general view of residential buildings in West Kowloon District, Hong Kong on April 11, 2023. (ANDY CHONG / CHINA DAILY)

HONG KONG – The Land Registry of Hong Kong recorded 5,755 sale and purchase agreements for all building units received for registration in April, down 33.1 percent compared with March and 18.6 percent higher year-on-year.

The total consideration for such agreements dropped 7.5 percent from March to HK$63.7 billion in April, while a 52.5 percent year-on-year increase was recorded.

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Of the agreements, 4,583 were for residential units, down 31.5 percent from March and 17.6 percent higher than a year ago.

The total consideration of residential units was HK$52.4 billion, a decrease of 9.5 percent compared with March and up 49 percent from April last year.

There were 349,372 land register searches last month.

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The number of searches of land registers made by the public in April was 349 372, down 21.3 percent compared with March 2023 and down 12.8 percent compared with April 2022.