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HK's Oct flat sales down 23% from Sept

(Xinhua)
Updated: 2009-11-04 15:45

The number of sale and purchase agreements for all building units in Hong Kong in October was 11,112, up 83.5 percent year-on-year but down 23 percent from the previous month, the city's Land Registry said Tuesday.

Related readings:  Flat sales up 8.5 percent in Hong Kong  Better flat sales rules sought  HK secondary flat sales fall on lending rate hike  Flat sales suspended for false ads in Shanghai

The agreements were worth a total of HK$45.5 billion ($5. 8 billion), up 140 percent year-on-year but down 32.2 percent from September.

About 9,300 of the agreements were for residential units, up 97. 1 percent year-on-year but down 24.3 percent on September. The total value stood at HK$36.3 billion ($4.7 billion), down 35.3 percent month-on-month.

Rising housing prices, particularly that of the luxury flats, have caused concerns for potential asset bubbles and prompted the Hong Kong Special Administrative Region (HKSAR) government officials to comment on housing prices in the city.