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The Land Registry today (March 4) released the land registration statistics for February 2008.
The total number of sale and purchase agreements for all types of building units received for registration in the Land Registry in February 2008 was 14,384. This was a decrease of 15.3% from January 2008 but an increase of 56.6% compared with February 2007.
Using a 12-month moving average, the figure for February 2008 represented an increase of 3.4% over January 2008 and 51.7% compared with February 2007.
The total consideration of these agreements in the month was $52 billion, down 23.3% from January 2008 but up 95.3% compared with the amount for February 2007.
Among the 14,384 sale and purchase agreements, 12,581 were sale and purchase agreements for residential units. This was a decrease of 14.9% from January 2008 but an increase of 61.2% compared with February 2007.
The total consideration of these agreements in the month was $43.8 billion, down 22.6% from January 2008 but up 97.7% compared with the amount for February 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 February 2008.
Relevant statistics for January 2008 and February 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, March 4, 2008
Issued at HKT 16:15
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