The number of property deals fell 8 per cent to 14,075 in September from the previous month, the Land Registry says.
The September volume still represented a surge of 33.4 per cent over the same month last year.
The total value of the September transactions was $59.2 billion, down 7.9 per cent from August but up 102.8 per cent over September last year.
Estate agents said they expected property transactions to increase this month due to further improvement in buying sentiment.
Centaline Property Agency associate director Ivan Ho Shiu-cheong said concern about Chief Executive Tung Chee-hwa's housing strategy announcement in his first major policy speech tomorrow had little impact on the market.
The company had closed 436 deals in the first five days this month against 183 deals for the same period in September, he said.