SATURDAY, JANUARY 11, 1991
NO. OF FLAT SALE LAST YEAR INCREASED BY 39 PER CENT
A
THE TOTAL NUMBER OF SALE AND PURCHASE AGREEMENTS OF FLATS, LARGE PROPORTION OF THEM IN UNCOMPLETED BUILDINGS, REGISTERED IN THE LAND OFFICE LAST YEAR INCREASED BY 39 PER CENT COMPARED WITH 1990.
REPORTING
THE
NEW
SAID
COMING
ON
FIGURES HIS DEPARTMENT'S
(INCLUDING TERRITORIES) FOR 1991 THE REGISTRAR GENERAL, MR NOEL GLEESON, TODAY (FRIDAY), THAT THE LARGE INCREASE WAS MAINLY DUE TO THE ON STREAM OF SEVERAL LARGE RESIDENTIAL DEVELOPMENTS.
THESE DEVELOPMENTS INCLUDED LAGUNA CITY IN KWUN TONG, GARDEN IN LEI YUE MUN ROAD, SOUTH HORIZON IN AP LEI CHAU, GARDEN IN TSING LUNG TAU, BELVEDERE GARDEN IN TING KAU AND VILLA IN YUEN LONG.
SCENEWAY HONG KONG KINGSWOOD
IN ALL,
176,701 SUCH AGREEMENTS WERE REGISTERED
DURING LAST
YEAR.
IN
THESE AGREEMENTS $285.24
THE TOTAL AMOUNT OF THE CONSIDERATIONS INCREASED BY 96.9 PER CENT FROM $144.86 BILLION IN 1990 TO BILLION LAST YEAR.
LODGED FOR YEAR, NO DOUBT PERCENTAGE
MR GLEESON SAID DECREASES IN VOLUME OF AGREEMENTS REGISTRATION WERE OBSERVED TOWARDS THE END OF THE
BY THE BANKING SECTOR OF REDUCTION REFLECTING THE AMOUNT AVAILABLE ON THE SECURITY OF RESIDENTIAL PROPERTIES.
THE
AND
NEVERTHELESS, HE BELIEVED THAT THERE WAS STILL A DANGEROUS UNHEALTHY DEGREE OF SPECULATION IN THE RESIDENTIAL PROPERTY MARKET AND ENACTED HOPED THAT THE LEGISLATION DESIGNED TO CONTROL THIS WOULD BE QUICKLY.
PER
LAST YEAR, 182,997 ASSIGNMENTS OF UNITS IN COMPLETED BUILDINGS, MOSTLY RESIDENTIAL, WERE REGISTERED, SHOWING AN INCREASE OF 10 CENT WHEN COMPARED WITH 166,354 DURING 1990.
THE
OF ASSIGNMENTS
FLATS TOTAL AMOUNT OF CONSIDERATIONS IN
то $227.01 INCREASED BY 42.6 PER CENT FROM $159.19 BILLION IN 1990 BILLION.
BY THE GOVERNMENT
A TOTAL OF 10,978 ASSIGNMENTS OF FLATS WERE COMPLETED
THE DEPARTMENT ON BEHALF OF THE HOUSING AUTHORITY UNDER HOME OWNERSHIP SCHEME, COMPARED WITH 9,846 IN 1990.
OF THE
IN NOVEMBER LAST YEAR, THE HOS CONVEYANCING FUNCTION DEPARTMENT WAS PRIVATISED INASMUCH AS FROM THEN ON THIS CONVEYANCING
CARRIED OUT BY THE SOLICITORS FIRMS INSTRUCTED BY THE
WAS
AUTHORITY.
HOUSING
BY AGREEMENT WITH THE LAW SOCIETY SOLICITORS CHARGE ONLY 50 PER CENT OF THE SCALE FEE.
/THIS WAS