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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

Taxi fares to be raised

The Transport Department announced today that the new fares for urban, New Territories and Lantau taxis will take effect from July 17.   The new flagfall charges for urban, New Territories and Lantau taxis for the first two kilometres will be $27, $23.5 and $22.   Afterwards, incremental charges below $93.5, $74.5 and $175 will be $1.9, $1.7 and $1.7.   Incremental charges above $93.5, $74.5 and $175 will be $1.3, $1.3 and $1.5.   Concerning additional charges, the fare for every piece of baggage carried, except light personal hand baggage carried inside the passenger compartment, will remain at $6.   Additionally, the fares for every animal or bird carried and every hiring arranged through telephone booking will still be $5.   From this Sunday, taxi drivers must display the fare conversion tables issued by the department in the vehicle if the taximeters are yet to be adjusted to display the new fares.   While passengers are required to pay the new fares according to the conversion tables, taxi drivers must state the new fares when they issue receipts to passengers.
http://dlvr.it/STshdj

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