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Property sales up 39%

September 02, 2016

The Land Registry announced today it recorded 7,430 sale and purchase agreements for all building units in August, up 38.8% on July, and up 43% year-on-year.


The 12-month moving average for August was 4,945, which was 3.9% above the 12-month moving average for July but 31.1% below that for August 2015.


The total consideration for sale and purchase agreements in August was $57.3 billion, up 58.8% on July and up 50.5% year-on-year.


Among the sale and purchase agreements, 5,821 were for residential units, up 37.2% on the previous month and up 49.4% year-on-year.


The total consideration for residential units was $40.6 billion, up 36.7% compared with July and 30.8% more year-on-year.


The public made 428,417 land register searches during the month.


Sales of First-hand Residential Properties Authority