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The Land Registry today (November 4) released the land registration statistics for October 2008.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in October 2008 was 6,054. This was a decrease of 17.8% from September 2008 and 54.2% compared with October 2007.
Using a 12-month moving average, the figure for October 2008 represented a decrease of 5% from September 2008 but an increase of 6.7% compared with October 2007.
The total consideration of these agreements in the month was $18.9 billion, down 19.6% from September 2008 and 62.6% compared with the amount for October 2007.
Among the 6,054 sale and purchase agreements, 4,719 were sale and purchase agreements for residential units. This was a decrease of 22.3% from September 2008 and 58.1% compared with October 2007.
The total consideration of these agreements in the month was $16.3 billion, down 13.1% from September 2008 and 62.9% compared with the amount for October 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 October 2008.
Relevant statistics for September 2008 and October 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, November 4, 2008
Issued at HKT 16:15
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