Hong Kong's property sales fell 9.1% in January

But it's still up 84.9% y-o-y.

The Land Registry announced yesterday that the number of sale and purchase agreements for all building units received for registration in January was 8,302 (-9.1 per cent compared with December 2012 but +84.9 per cent compared with January 2012).

It also notes, the 12-month moving average for January was 9,945 (3.3 per cent above the 12-month moving average for December 2012 and 15.4 per cent above that for January 2012).

The total consideration for sale and purchase agreements in January was $50.1 billion (+20.7 per cent compared with December 2012 and +80.3 per cent compared with January 2012)

Among the sale and purchase agreements, 5,430 were for residential units (+65.2 per cent compared with December 2012 and +54.8 per cent compared with January 2012)

The total consideration for sale and purchase agreements in respect of residential units was $28.5 billion (+66.3 per cent compared with December 2012 and +28.6 per cent compared with January 2012)

The statistics only include sale and purchase agreements with payment of stamp duty. Sale and purchase agreements relating to the sale of units under the Home Ownership Scheme, the Private Sector Participation Scheme and the Tenants Purchase Scheme are not included unless the premium of the unit has been paid after the sale restriction period.