The Land Registry recorded 3,893 sale and purchase agreements for all building units received for registration in September, down 16.5% compared with August and 19.5% lower year-on-year.

The total consideration for such agreements fell 14.7% from August to $29.8 billion in September, while a 14.4% year-on-year decrease was recorded.

Of the agreements, 2,862 were for residential units, down 11.9% from August and 26.1% lower than a year ago.

The total consideration for residential units was $22.8 billion, a drop of 20.5% compared with August 2023 and down 21.7% from September last year.

There were 331,931 land register searches last month.