PART I
LAND REGISTRY
Deeds Registration.
1. 1954/55 was a year of unparalleled activity in the property market. No fewer than 9,827 instruments were re- gistered under the Land Registration Ordinance (Cap. 128), 1,477 more than the previous record total registered in 1953/54.
2. In view of the great increase in the number of deeds registered it is not surprising that the total of the considerations stated in the instruments was also the highest ever recorded, namely $602,674,209.85, over $220,000,000, more than the previous record total recorded in 1953/54.
3. Table I shows the numbers of instruments registered each year since the war, and also the average number registered during the years 1935/39. Table II shows the numbers of instruments registered in each category in 1954/55. Consider- able increases have taken place in the numbers of Assignments and Mortgages: Assignments totalled 3,870 against 2,884 for 1953/54, Mortgages 2,213 against 1,735. The total number of lots or portions of lots affected by all the instruments registered was 12,301 against 9,172 for 1953/54. The practice of selling flats outright to individual owners noted in last year's Report has become very common, and indeed has become the standard procedure with many builders.
4. 184 Crown Leases were issued in 1954/55. This is 67 less than in 1953/54, the decline being due to the reduced number of Lease Plans received. The fees collected totalled $23,200. Table III shows the numbers of the various types of Leases issued.
1