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The Land Registry today (September 2) released the land registration statistics for August 2008.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in August 2008 was 6,402. This was a decrease of 28.3% from July 2008 and 53.1% compared with August 2007.
Using a 12-month moving average, the figure for August 2008 represented a decrease of 4.7% from July 2008 but an increase of 19.2% compared with August 2007.
The total consideration of these agreements in the month was $18 billion, down 44.9% from July 2008 and 59.2% compared with the amount for August 2007.
Among the 6,402 sale and purchase agreements, 5,284 were sale and purchase agreements for residential units. This was a decrease of 28.9% from July 2008 and 54% compared with August 2007.
The total consideration of these agreements in the month was $15 billion, down 40.4% from July 2008 and 59.3% compared with the amount for August 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 August 2008.
Relevant statistics for July 2008 and August 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, September 2, 2008
Issued at HKT 16:15
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