10. The following comparative statement shows the Rateable Value of the Colony of Hong Kong from 1928-1929 to 1938-1939 inclusive:
Year Rateable Value Increase Decrease % Increase % Decrease 1928-1929 30,895,447 1929-1930 31,617,566 1,222,119 4.02 1930-1931 33,069,602 1,452,036 4.59 1931-1932 35,071,566 2,001,964 6.04 1932-1933 37,457,725 2,386,159 6.80 1933-1934 38,941,273 1,483,548 3.96 1934-1935 38,641,856 299,417 0.77 1935-1936 36,374,100 2,267,756 5.87 1936-1937 34,643,760 1,730,340 4.76 1937-1938 34,208,734 435,026 1.26 1938-1939 35,502,622 1,293,888 3.7811. In the ten years from 1928-1929 to 1938-1939 the rateable value of the Colony has increased by $5,107,175 or 16.80 per cent.
12. If the interim valuations are deducted from the new total valuation of the Colony, the increase this year is 1.95 per cent as compared with a decrease of 2.13 per cent last year.
13. The influx of refugees from China has led to a rapid decrease in vacant tenements of all classes. While a few fancy rents have, as a result, been obtained, and the rents of certain classes of property, notably the lower priced European and semi-European types of dwellings, have shown a more or less general increase, the bulk of the Chinese tenement property, both in the City and the outlying districts, has shown little or no increase in rents generally.