Hong Kong people buy less property in April

A total of 6,849 sale and purchase agreements for residential units were reported in Hong Kong in April, with the total consideration up 2 percent over March, but down 47.6 percent over a year earlier to 20.2 billion HK dollars ( 2.6 billion U.S. dollars), the Land Registry said Wednesday.

The number of agreements fell 8.1 percent on March and 51.5 percent over a year earlier, according to the Land Registry.

The registry received 8,598 sale and purchase agreements for all types of building units for registration in April, a 6.6 percent decline from March and 47.2 percent decline over a year earlier.

Using a 12-month moving average, the figure represented a 6.7 percent dip on March and a 13.3 percent fall on April last year.

The total consideration of these agreements in the month was 48. 5 billion HK dollars (6.26 billion U.S. dollars), up 91.3 percent from March and 1.2 percent over a year earlier.

Source: Xinhua