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The Land Registry today (June 3) released the land registration statistics for May 2008.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in May 2008 was 10,138. This was a decrease of 7.4% from April 2008 and 22.6% compared with May 2007.
Using a 12-month moving average, the figure for May 2008 represented a decrease of 1.8% from April 2008 but an increase of 41.7% compared with May 2007.
The total consideration of these agreements in the month was $34 billion, up 1.4% over April 2008 but down 24.4% compared with the amount for May 2007.
Among the 10,138 sale and purchase agreements, 8,281 were sale and purchase agreements for residential units. This was a decrease of 8.5% from April 2008 and 25.5% compared with May 2007.
The total consideration of these agreements in the month was $26.3 billion, down 4.6% from April 2008 and 31.1% compared with the amount for May 2007.
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 2008.
Relevant statistics for April 2008 and May 2007 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, June 3, 2008
Issued at HKT 16:15
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