HK Land Sale, Purchase Agreements Down in 2002

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Last updated at: (Beijing Time) Tuesday, January 07, 2003

HK Land Sale, Purchase Agreements Down in 2002

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Hong Kong Land Registry released Monday the total number of sale and purchase agreements for all types of building units received for registration in 2002 represented a decrease of 2.6 percent compared with 2001.

The number stood at 85,921, an increase of 0.2 percent comparedwith 2000. The total amount of consideration involved in these agreements was 185.39 billion HK dollars (23.7 billion US dollars),declining 3.8 percent compared with 2001 and 16.7 percent comparedwith 2000.

During 2002, 119,734 assignments of building units were lodged for registration, 16.9 percent below the 144,037 recorded during 2001 and 21.2 percent below the 152,022 recorded in 2000.

The total amount secured under mortgages (other than building mortgages) was 68.34 billion HK dollars (8.7 billion dollars), showing a decrease of 19.4 percent compared with 2001 and 27.3 percent compared with 2000.

Searches of land records made by members of the public during 2002 totaled 2,815,563, down by 11.5 percent compared with 2001 and 13.9 percent compared with 2000.

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