Hong Kong Lands Department: Land premium revenue in the second quarter of Hong Kong exceeds HK$ 1 billion, hitting a five-year low.

The Hong Kong Land Registry announced that the land premium income recorded from April to June this year was 102.65 million Hong Kong dollars, a decrease of over 90% compared to the previous quarter, marking the lowest quarterly figure in more than 5 years. The Hong Kong Land Registry stated that during the quarter from April to June this year, there were a total of 11 deeds of variation registered at the Land Registry, as well as 3 land exchange cases, with 5 of them being technical deed variations that did not involve land premium amounts. Of the 14 land transactions mentioned above, two were located on Hong Kong Island, eight in Kowloon, and four in the New Territories, and these figures do not include small-scale building cases. There were no private agreements for land grants or site approvals registered during the quarter. The total land premium income from the aforementioned land transactions is approximately 102.65 million Hong Kong dollars.