The Land Registry recorded 7,949 sale and purchase agreements for all building units received for registration in May, up 63.8% from April but 11.3% lower year-on-year.

The total consideration for such agreements rose 84.3% from April to $77 billion in May, but a 12.1% year-on-year decrease was recorded.

Of the agreements, 6,202 were for residential units, up 59.1% from April but 12.5% lower than a year ago.

The total consideration of residential units was $58 billion, an increase of 65.1% compared with April but down 24.5% from May last year.

There were 475,130 land register searches last month.