*****************************************
The Land Registry today (June 2) released the land registration statistics for May 2005.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in May, 2005, was 14,853. This was a decrease of 8.8% from April, 2005, but an increase of 64.2% compared with May, 2004.
Using a 12-month moving average, the figure for May, 2005, represented an increase of 4.7% over April, 2005, and 15% compared with May, 2004.
The total consideration of these agreements in the month was $54.1 billion, up 13% over April, 2005, and 116% compared with the amount for May, 2004.
Among the 14,853 sale and purchase agreements, 12,463 were sale and purchase agreements for residential units. This was a decrease of 11.8% from April, 2005, but an increase of 68.9% compared with May, 2004.
The total consideration of these agreements in the month was $45.8 billion, up 18.5% over April, 2005, and 130.6% compared with the amount for May, 2004.
Sales of residential units refer to the sale and purchase agreements with payment of stamp duty. These statistics do not include sales of units under the Home Ownership Scheme, the Private Sector Participation Scheme and the Tenants Purchase Scheme except those after payment of premium.
The figures are contained in the monthly statistics released today by the Land Registry on deeds relating to property transactions received for registration in the Land Registry in May, 2005.
Relevant statistics for April, 2005, and May, 2004, are provided for comparison. Figures on sale and purchase agreements received for the past 12 months, the year-on-year rate of change and breakdown figures on residential sales are also released.
These statistics generally relate to land transactions executed up to four weeks prior to their submission for registration, as there is usually a time lag between the execution of deeds and their lodgement for registration.
Ends/Thursday, June 2, 2005
NNNN
Annex (PDF Format)
