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Flat sale, purchase pacts down 7.4% in HK

(Xinhua)
Updated: 2008-06-04 14:05

Some 10,138 flat sale and purchase agreements were received for registration in May in Hong Kong, down 7.4 percent on April and 22.6 percent on a year earlier, Hong Kong Land Registry said on Tuesday.

Using a 12-month moving average, the figure for May represented a 1.8 percent dip on April but a 41.7 percent rise on May last year. Total consideration was HK$34 billion ($4.36 billion), up 1.4 percent on April but down 24.4 percent on a year earlier.

Of the sale and purchase pacts, 8,281 were for residential units, down 8.5 percent on April and 25.5 percent on last May. The total consideration was HK$26.3 billion($3.37 billion), down 4.6 percent on April and 31.1 percent on a year earlier, the Land Registry said.