The Land Registry recorded 6,415 sale and purchase agreements for all building units in March, down 14% on February and 15.6% less than the same period last year.

The total consideration for sale and purchase agreements in March was $50.5 billion, a decrease of 19.3% from February and 18% lower compared to a year ago.

Of the sale and purchase agreements, 4,263 were for residential units, a 22.2% drop from the previous month and down 27.2% year-on-year.

The total consideration for residential units was $38.8 billion, a fall of 23.7% compared with February and a decrease of 23% compared to a year ago.

The public made 452,217 land register searches in March.