​The Land Registry logged 7,361 sale and purchase agreements for all building units received for registration in May, down 25.5% compared with April but 39.3% higher year-on-year.

The total consideration for such agreements in May dropped 25.8% from April, to $62.3 billion, while a 39.8% year-on-year increase was recorded.

Of the agreements, 5,546 were for residential units, representing a 35.1% decrease from April but a 38.5% rise from a year ago.

The total consideration for residential units was $53.4 billion, down 31.1% compared with April and up 45.2% year-on-year.

There were 405,058 land register searches last month.