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The Land Registry today (November 2) released the land registration statistics for October, 2006.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in October, 2006, was 7,554. This was a decrease of 32.6% from September 2006 and 23.4% compared with October, 2005.
Using a 12-month moving average, the figure for October, 2006, represented a decrease of 2.4% from September, 2006, and 28.9% compared with October, 2005.
The total consideration of these agreements in the month was $21.7 billion, down 36.3% from September, 2006, and 39.2% compared with the amount for October, 2005.
Among the 7,554 sale and purchase agreements, 6,335 were sale and purchase agreements for residential units. This was a decrease of 35.4% from September, 2006, and 25.9% compared with October, 2005.
The total consideration of these agreements in the month was $18.2 billion, down 37.3% from September 2006 and 39.3% compared with the amount for October, 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 October, 2006.
Relevant statistics for September, 2006, and October, 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/Thursday, November 2, 2006
Issued at HKT 16:15
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