The Land Registry logged 4,307 sale and purchase agreements for all building units received for registration in February, down 12.8% compared with January and up 35.1% year-on-year.

The total consideration for such agreements in February dropped 23% from the previous month to $28.3 billion, representing a 25.3% year-on-year growth.

Of the agreements, 3,200 were for residential units, amounting to an 11.7% decrease from January and a 34.7% rise from a year ago.

The total consideration for residential units was $23 billion, down 13.9% compared with January and 20.5% higher year-on-year.

There were 338,037 land register searches last month.