HK property sales drop 36 pct in April

HONG KONG - Hong Kong recorded 4,387 sale and purchase agreements for all building units in April, down 35.9 percent on March, and 59 percent year-on-year, the Hong Kong Lands Registry announced Friday.

The total consideration for these agreements stood at 31.9 billion HK dollars (about 4.1 billion U.S. dollars), down 28.3 percent on March and 47.6 percent year-on-year.

There were 3,427 agreements for residential units, with a total consideration of 18.7 billion HK dollars. (1 U.S. dollar equals 7. 76 HK dollars)