The Land Registry logged 8,537 sale and purchase agreements received for registration for all building units in May, a drop of 1.8% compared with April and up 32.5% year on year.

The total consideration for building unit sale and purchase agreements in May decreased 0.1% from the previous month to 72.8 billion, representing a 46.1% year-on-year increase.

A total of 7,138 agreements were for residential units, down 3.1% from the previous month and up 39.8% from a year ago.

The total consideration for residential units was $65.6 billion, an increase of 3% compared with the previous month and a rise of 71.5% year on year.

There were 450,201 land register searches last month.