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WEDNESDAY, JANUARY 14, 1987
THERE WERE 653 ASSIGNMENTS OF LOTS AND SECTIONS, 9.9 PER CENT MORE THAN IN 1985. THE TOTAL VALUE OF CONSIDERATIONS IN ASSIGNMENTS OF LOTS AND SECTIONS INCREASED BY 306.4 PER CENT FROM $6.920 BILLION IN 1985 TO $28.122 BILLION LAST YEAR.
FORTY-NINE BUILDING MORTGAGES AND 76 004 OTHER MORTGAGES WERE REGISTERED, COMPARED WITH 52 AND 64 602 RESPECTIVELY IN THE PREVIOUS YEAR. THE TOTAL AMOUNT SECURED UNDER BUILDING MORTGAGES REGISTERED DURING THE YEAR DROPPED BY 6.7 PER CENT, FROM $0.974 BILLION TO $0.909 BILLION.
THE AMOUNT SECURED UNDER MORTGAGES OTHER THAN BUILDING MORTGAGES ROSE BY 31.6 PER CENT, FROM $25.148 BILLION TO $33.086 BILLION.
REPAYMENTS UNDER MORTGAGES OF ALL KINDS, AS EVIDENCED BY DISCHARGES AND MORTGAGEE'S RECEIPTS, WERE DOWN BY 2.4 PER CENT, FROM $22.735 BILLION TO $22.182 BILLION.
SEARCHES IN THE LAND OFFICE BY MEMBERS OF THE PUBLIC REACHED A RECORD OF 1 220 951, UP BY 20.9 PER CENT.
DURING THE YEAR, THE FIVE NEW TERRITORIES DISTRICT LAND REGISTRIES OPERATED BY THE DEPARTMENT REGISTERED A TOTAL OF 130 899 INSTRUMENTS, ALSO A RECORD.
THIS INCLUDED 23 523 SALE AND PURCHASE AGREEMENTS OF FLATS, 33 341 ASSIGNMENTS OF FLATS, 2 827 ASSIGNMENTS OF LOTS AND SECTIONS, 46 BUILDING MORTGAGES, 37 857 OTHER MORTGAGES AND 16 811 MORTGAGEES' RECEIPTS, REASSIGNMENTS AND CERTIFICATES OF SATISFACTION WITH A TOTAL VALUE OF CONSIDERATION OF $10.504 BILLION, $11.047 BILLION, $1.799 BILLION, $1.334 BILLION, $10.699 BILLION AND $6,025 BILLION RESPECTIVELY.
COMMENTING ON THESE FIGURES, MR GLEESON SAID THEY REFLECT A CONTINUING INCREASE OF ACTIVITY IN THE PROPERTY MARKET, PARTICULARLY IN RESIDENTIAL FLATS WHICH SHOWED NO SIGNS OF SLACKENING TOWARDS THE END OF 1986.+
HE SAID THAT AN INTERESTING ECONOMIC AND SOCIAL INDICATOR WAS THAT THE TOTAL NUMBER OF REGISTERED PROPERTY OWNERS IN HONG KONG NOW STOOD AT 906 957. AN INCREASE OF 79 880 OR 9.7 PER CENT OVER THE FIGURE AT THE END OF 1985 WHICH ITSELF WAS AN INCREASE OF 9.8 PER CENT OVER 1984.
THE NUMBER OF GOVERNMENT LAND GRANTS AND MODIFICATIONS OF GOVERNMENT LEASE CONDITIONS COMPLETED AND REGISTERED IN THE URBAN LAND OFFICE LAST YEAR INCREASD FROM 273 IN 1985 TO 303, WHILE THE TOTAL PREMIUM INVOLVED DECREASED BY 43.5 PER CENT FROM $4.546 BILLION TO $2.57 BILLION.
/SIGNIFICANT