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The Land Registry today (April 2) released the land registration statistics for March, 2008.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in March was 10,993. This was a decrease of 23.6% from February but an increase of 16.1% compared with March, 2007.
Using a 12-month moving average, the figure for March, 2008, represented an increase of 1% over February, 2008, and 52.8% compared with March, 2007.
The total consideration of these agreements in the month was $44 billion, down 15.3% from February, 2008, but up 37.4% compared with the amount for March, 2007.
Among the 10,993 sale and purchase agreements, 9,550 were sale and purchase agreements for residential units. This was a decrease of 24.1% from February, 2008, but an increase of 18.8% compared with March, 2007.
The total consideration of these agreements in the month was $37.4 billion, down 14.4% from February, 2008, but up 48.6% compared with the amount for March, 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 March, 2008.
Relevant statistics for February, 2008, and March, 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/Wednesday, April 2, 2008
Issued at HKT 16:15
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