***************************************
The Land Registry today (April 2) released the land registration statistics for March 2009.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in March 2009 was 8,062. This was 59.9% higher than in February 2009 but a decrease of 26.7% compared with March 2008.
Using a 12-month moving average, the figure for March 2009 represented a decrease of 3.2% from February 2009 and 44.1% compared with March 2008.
The total consideration of these agreements in the month was $28.6 billion, 80.1% higher than that in February 2009 but a decrease of 35% compared with the amount for March 2008.
Among the 8,062 sale and purchase agreements, 7,102 were sale and purchase agreements for residential units. This was 58.3% higher than that in February 2009 but 25.6% lower than that in March 2008.
The total consideration of these agreements in the month was $25.4 billion, 86.8% higher than that in February 2009 but 32% lower than that in March 2008.
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 March 2009.
Relevant statistics for February 2009 and March 2008 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/Thursday, April 2, 2009
Issued at HKT 15:00
NNNN
