******************************************
The Land Registry today (January 5) released the land registration statistics for December 2008.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in December was 5,437. This was an increase of 43.6% over November but a decrease of 65.1% compared with December 2007.
Using a 12-month moving average, the figure for December represented a decrease of 8.2% from November and 22.2% compared with December 2007.
The total consideration of these agreements in the month was $20.5 billion, up 92.7% over November but down 68.2% compared with the amount for December 2007.
Among the 5,437 sale and purchase agreements, 4,706 were sale and purchase agreements for residential units. This was an increase of 44.2% over November but a decrease of 65.1% compared with December 2007.
The total consideration of these agreements in the month was $17.7 billion, up 96.1% over November but down 66.4% compared with the amount for December 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 December.
Relevant statistics for November 2008 and December 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/Monday, January 5, 2009
Issued at HKT 16:00
NNNN
