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The Land Registry today (June 2) released the land registration statistics for May, 2006.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in May 2006 was 9,332. This was an increase of 8.5% over April 2006 but a decrease of 37.2% compared with May 2005.
Using a 12-month moving average, the figure for May 2006 represented a decrease of 5.1% from April 2006 and 21.5% compared with May 2005.
The total consideration of these agreements in the month was $33.2 billion, down 31.5% from April 2006 and 38.7% compared with the amount for May 2005.
Among the 9,332 sale and purchase agreements, 7,812 were sale and purchase agreements for residential units. This was an increase of 14.1% over April 2006 but a decrease of 37.3% compared with May 2005.
The total consideration of these agreements in the month was $23.4 billion, up 15.5% over April 2006 but down 49% compared with the amount for May 2005.
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 May 2006.
Relevant statistics for April 2006 and May 2005 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.
These statistics generally relate to land transactions executed up to four weeks prior to their submission for registration, as there is usually a time lag between the execution of deeds and their lodgement for registration.
Ends/Friday, June 2, 2006
Issued at HKT 16:15
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