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RESIDENTIAL PROPERTY | Tony Chua, Hong Kong
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Hong Kong June flat sales up 7.5%

Yet the number of searches of land registers made in the same month dropped 2.9% compared with May and fell 6.7% compared with June 2010.

The Land Registry on Tuesday said the number of sale and purchase agreements for all building units received for registration in June was 11,601, representing a 7.5% decrease on May but a 4.3% increase on June last year.

The 12-month moving average for June was 12,985 - 0.3% above the 12-month moving average for May and 2.2% above that for June 2010.

The total consideration for sale and purchase agreements was $70.5 billion, an 11.6% increase compared with May and a 63.6% increase compared with the same month last year.

Among the sale and purchase agreements, 9,043 were for residential units, a 6.6% decrease compared with May and a 1% drop compared with June 2010.

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