People look at advertisements displayed at a property agency in Hong Kong on May 31, 2020. (PHOTO / BLOOMBERG)

HONG KONG – The Land Registry recorded 8,599 sale and purchase agreements for all building units received for registration in March, up 43.8 percent compared with February and 124.6 percent higher year-on-year.

The total consideration for such agreements rose 57.2 percent from February to HK$68.9 billion in March, while a 97.7 percent year-on-year increase was recorded, according to data released by the Land Registry on Tuesday.

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Of the agreements, 6,690 were for residential units, up 56.2 percent from February and 133.2 percent higher than a year ago.

The total consideration of residential units was HK$57.9 billion, a rise of 57.9 percent compared with February and up 115 percent from March last year.

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The number of searches of land registers made by the public in March was 444,182, the Land Registry added.