The Land Registry recorded 4,999 sale and purchase agreements for all building units for registration in February, down 10.6% on January and 33% lower compared to the same period last year.

The total consideration for sale and purchase agreements for the month was $41.7 billion, down 42.1% compared with January and a 33.4% dip year-on-year.

Of the sale and purchase agreements, 4,089 were for residential units, a 10% decrease from the previous month and down 25.4% compared to a year ago.

The total consideration for residential units was $36.1 billion, a 19.7% decrease on January and down 29.1% year-on-year.

There were 312,119 land register searches in February.