HK's sales, purchase agreements of flats drop half in October

Hong Kong's sale and purchase agreements of flats in October decreased more than half year on year, according to the release of the city's Land Registry. The figures showed that there were 5,675 sale and purchase agreements for registration in October in Hong Kong, down 13.7 percent on September and a fall of 53.3 percent year on year. The total consideration for sale and purchase agreements in October was 27.6 billion HK dollars, down 11.7 percent on September and a fall of 51.5 percent year on year. There were 4,643 agreements for residential units, down 3.7 percent compared with September, and a fall of 51.4 percent year on year. The total consideration for sale and purchase agreements for residential units was 22.5 billion HK dollars, down 2.2 percent on September and 50 percent year on year.