The Land Registry received 10,353 sale and purchase agreements for all building units in May, up 4.5% on April and 32.9% higher compared with May 2018.

The total consideration for such agreements in May surged 42.3% year-on-year to $90.3 billion.

Of the agreements, 8,208 were for residential units, up 4.9% from April and a rise of 48.6% compared to a year ago.

The total consideration for residential units was $78.4 billion, up 11.9% compared with April and 50.3% higher than May 2018.

There were 497,510 land register searches last month.