Hong Kong July property contracts 6,715, down 28.8% m/m; residential 4,462, down 41.7%
In July, Hong Kong's Land Registry recorded 6,715 building sale and purchase agreements, down 28.8% month-on-month and 6.9% year-on-year. Residential agreements fell 41.7% m/m and 22.6% y/y to 4,462. Total value declined 37.5% m/m to HK$51.7 billion, while residential value dropped 44.6% m/m to HK$41.9 billion. The 12-month moving average stood at 7,776, down 0.5% m/m but up 30.2% y/y.
The Land Registry announced that in July, a total of 6,715 sale and purchase agreements for all types of buildings were submitted for registration, down 28.8% month-on-month and 6.9% year-on-year. The total value of these agreements was HK$51.7 billion, down 37.5% month-on-month and 5.3% year-on-year.
Among these, residential building sale and purchase agreements accounted for 4,462, down 41.7% month-on-month and 22.6% year-on-year. The total value of residential agreements was HK$41.9 billion, down 44.6% month-on-month and 9.6% year-on-year.
On a 12-month moving average basis, July's number of sale and purchase agreements was 7,776, down 0.5% month-on-month but up 30.2% year-on-year. As land documents may be submitted to the Land Registry for registration within 30 days after the transaction date, the registration figures above generally reflect property transaction numbers from the previous month.