The housing market in Hong Kong is gaining strong momentum this year as 13,227 registrations for flat sale and purchase agreements were recorded in October, up 26. 3 percent from September, revealed the Land Registry's latest figures on Friday.
The housing sales' robust growth in October in the city was also 75.1 percent stronger than the same month last year, according to the Land Registry.
The total consideration of these agreements was 50.7 billion HK dollars (6.54 billion U.S. dollars), up 52.5 percent from September and 133.2 percent from October 2006.
Using a 12-month moving average, October's figure represents a 4.6 percent rise from September, and 35.2 percent from October 2006.
Of the agreements, 11,271 are for residential units, up 28.8 percent from September and 77.9 percent from October 2006.
The total consideration of residential sales agreements was 43. 8 billion HK dollars (5.65 billion U.S. dollars), up 81.9 percent from September and 141.5 percent from October 2006.
(Xinhua News Agency November 3, 2007)
