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The Land Registry today (December 4) released the land registration statistics for November, 2007.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in November 2007 was 18,105. This was an increase of 36.9% over October 2007 and 112% compared with November 2006.
Using a 12-month moving average, the figure for November 2007 represented an increase of 7.4% over October 2007 and 44.5% compared with November 2006.
The total consideration of these agreements in the month was $81.4 billion, up 60.6% over October 2007 and 213.8% compared with the amount for November 2006.
Among the 18,105 sale and purchase agreements, 15,759 were sale and purchase agreements for residential units. This was an increase of 39.8% over October 2007 and 121.8% compared with November 2006.
The total consideration of these agreements in the month was $70.1 billion, up 60% over October 2007 and 260.3% compared with the amount for November 2006.
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 November 2007.
Relevant statistics for October 2007 and November 2006 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.
As deeds may not be lodged with the Land Registry until up to 30 days after the transaction, these statistics generally relate to land transactions in the previous month.
Ends/Tuesday, December 4, 2007
Issued at HKT 16:32
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