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Property sales dip 27.5%

The Land Registry recorded 3,189 sale and purchase agreements for all building units received for registration in February, down 27.5% compared with January and 46.7% lower year-on-year.   The total consideration for such agreements in February fell 32.9% from January, to $22.6 billion, while a 48.5% year-on-year decrease was recorded.   Of the agreements, 2,375 were for residential units, down 31.7% from January and 44.5% lower than a year ago.   The total consideration for residential units was $19.1 billion, a decrease of 31.3% compared with January and down 47.9% year-on-year.   There were 276,910 land register searches last month. http://dlvr.it/T3ZqYl

16 DC oaths confirmed invalid

Secretary for Home Affairs Caspar Tsui determined that oaths taken by 16 District Council members on October 8 were invalid.   The oath-taking ceremony covered members of the Tsuen Wan, Tuen Mun, Yuen Long, Kwai Tsing and the Islands district councils. Of the 68 members who took oaths, Mr Tsui as the oath administrator confirmed that 51 were valid.   For the remaining 17 members whose oaths were in question, one member tendered her resignation on October 11 and Mr Tsui confirmed today that the other 16 members' oaths taken were invalid after considering their replies and all relevant information.   The decision is based on the principles laid down in the Interpretation of Article 104 of the Basic Law by the National People's Congress Standing Committee and the relevant legal provisions.
http://dlvr.it/SB0ggt

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