Agency figures indicate property transactions dropped 12.6 per cent last month, compared with May, suggesting the property sector has started to cool.
The decline comes at a time when there is heightened attention on the residential property sector following a pledge by Chief Executive Tung Chee-hwa to increase housing supply and crack down on speculation if necessary.
The figures were compiled by Midland Realty and Centaline Property Agency, which said the drop was exacerbated because there were only 22 working days last month, compared with 27 in May.
The agencies said their estimates reflected the state of the property market in May rather than last month because there was a four-week lag between the purchase of a property and its registration.
The shorter working month meant there were less days available to register properties.
Midland estimated there were 17,250 sale and purchase agreements last month while Centaline said there were 17,300 deals.
Official Land Registry figures stated there were 19,761 sale and purchase agreements in May.
