This picture taken on Aug 3, 2019 shows a general view of residential and commercial buildings in the Kowloon district (foreground) with the skyline of Hong Kong Island past Victoria Harbour (center) in the distance. (ANTHONY WALLACE / AFP)

HONG KONG - The Land Registry recorded 7,949 sale and purchase agreements for all building units received for registration in May, up 63.8 percent from April but 11.3 percent lower year-on-year, the government said on Thursday.

The total consideration for such agreements rose 84.3 percent from April to HK$77 billion ($9.81 billion) in May, but a 12.1 percent year-on-year decrease was recorded.

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Of the agreements, 6,202 were for residential units, up 59.1 percent from April but 12.5 percent lower than a year ago.

The total consideration of residential units was HK$58 billion, an increase of 65.1 percent compared with April but a drop of 24.5 percent from May 2021.

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There were 475,130 land register searches last month, according to the government.