Land Registry: Residential building sale agreements in March increased by 18% year-on-year, with a total contract value rising by 42%

The Land Registry announced that a total of 7,737 types of property sale and purchase agreements were submitted for registration in March, a month-on-month decrease of 2.4% but a year-on-year increase of 16.2%.

Based on a 12-month moving average, the number of property sale and purchase agreements in March was 7,341, reflecting a month-on-month increase of 1.2% and a year-on-year increase of 23.6%. The total value of property sale and purchase agreements was HKD 62.3 billion, a month-on-month increase of 0.3% and a year-on-year increase of 36.5%.

Among the aforementioned agreements, residential property sale and purchase agreements accounted for 6,316, showing a month-on-month decrease of 5.3% but a year-on-year increase of 17.7%. The total value of these agreements was HKD 55.2 billion, with a month-on-month decrease of 4.2% and a year-on-year increase of 42.2%.

Additionally, the number of inquiries made by citizens in March totaled approximately 452,100, representing a month-on-month increase of 43.2% and a year-on-year increase of 15%