Sharp rise seen in Hong Kong property sales

November saw 13,690 sale and purchase agreements in Hong Kong estate market for all types of building units for registration, up 41.9 percent over a year earlier, Hong Kong Land Registry said Thursday.

The total consideration was 44.5 billion HK dollars (5.7 billion US dollars), up 108.9 percent over a year earlier, said the Land Registry.

When compared with October, the number of agreements increased 25.4 percent while the total consideration went up 30.2 percent.

Using a 12-month moving average, the number of agreements represented a surge of 3.4 percent over October and 43.8 percent over a year earlier.

Among the agreements, 11,281 were for residential units. This represented an increase of 28 percent over October and 44.4 percent over a year earlier.

The total consideration of these agreements was 35 billion HK dollars (4.5 billion US dollars), up 31.6 percent over October and98.3 percent over a year earlier, said the Land Registry.

Source: Xinhua