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The Land Registry today (December 2) released the land registration statistics for November.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in November was 3,786. This was a decrease of 37.5% from October and 79.1% compared with November 2007.
Using a 12-month moving average, the figure for November represented a decrease of 10.4% from October and 11% compared with November 2007.
The total consideration of these agreements in the month was $10.6 billion, down 43.8% from October and 86.9% compared with the amount for November 2007.
Among the 3,786 sale and purchase agreements, 3,264 were sale and purchase agreements for residential units. This was a decrease of 30.8% from October and 79.3% compared with November 2007.
The total consideration of these agreements in the month was $9 billion, down 44.7% from October and 87.2% compared with the amount for November 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 November.
Relevant statistics for October 2008 and November 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, December 2, 2008
Issued at HKT 16:15
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