XN000022-1984-08-05 — Page 6

SUNDAY, AUGUST 5, 1984

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THE TOTAL VALUE OF CONSIDERATIONS IN ASSIGNMENTS OF LOTS AND SECTIONS DECLINED BY 72 PER CENT FROM $3.205 BILLION TO $0.893 BILLION, WHILE THAT FOR THE ASSIGNMENT OF FLATS DROPPED BY 1.4 PER CENT FROM $11.910 BILLION TO $11.741 BILLION.

THE TOTAL AMOUNT SECURED UNDER BUILDING MORTGAGES REGISTERED

IN THE FIRST HALF OF 1984 FELL BY ABOUT 62 PER CENT, FROM $481 MILLION TO $181 MILLION.

THE AMOUNT UNDER MORTGAGES OTHER THAN BUILDING MORTGAGES DECREASED BY 70.5 PER CENT, FROM $28.224 BILLION TO $8.336 BILLION.

REPAYMENTS UNDER MORTGAGES OF ALL KINDS, AS EVIDENCED BY REASSIGNMENTS AND CERTIFICATES OF SATISFACTION, WERE UP BY 14.8 PER CENT, FROM $5.716 BILLION TO $6.562 BILLION.

BUT THE REGISTRAR GENERAL, MR NOEL GLEESON, CAUTIONED THAT THE VARIOUS FIGURES CITED DID NOT INCLUDE TRANSACTIONS IN THE NEW TERRITORIES AND THUS DID NOT COVER THE TOTAL PROPERTY MARKET.

OF THE EIGHT NT DISTRICT LAND REGISTRIES, ONLY THREE HAVE BEEN TAKEN OVER BY THE REGISTRAR GENERAL'S DEPARTMENT. IT IS INTENDED THAT THE DEPARTMENT WILL TAKE OVER THE REST BY STAGES.

SIGNIFICANT GOVERNMENT LAND TRANSACTIONS COMPLETED IN THE FIRST HALF OF 1984 INCLUDED THE FOLLOWING:

* THE GRANT OF THE 16-HECTARE SITE AT

KORNHILL TO THE MASS TRANSIT RAILWAY CORPORATION THROUGH LAND EXCHANGE WITH A PREMIUM OF $292 015 000 FOR RESIDENTIAL PURPOSES.

* THE SALE OF THE ADMIRALTY I SITE AT

QUEENSWAY TO FIRST PROF IT INVESTMENT LTD AT A PREMIUM OF $380 000 000 FOR COMMERCIAL-HOTEL PURPOSES.

* THE GRANT BY PRIVATE TREATY OF A SITE

AT QUEENSWAY TO THE BANK OF CHINA AT A PREMIUM OF $1 000 MILLION.

IN ALL, 124 LAND GRANTS AND MODIFICATIONS OF LEASE CONDITIONS WERE COMPLETED, UP FROM 117 IN THE FIRST HALF OF 1983, WHILE THE TOTAL PREMIUM INVOLVED ROSE BY 240 PER CENT FROM $593 MILLION TO 2015 MILLION.

OVER THE SAME PERIOD, SURRENDERS AND RESUMPTIONS OF LAND DROPPED BY 41.4 PER CENT FROM 186 TO 109, WITH THE AMOUNT OF COMPENSATION DECREASING BY 68.9 PER CENT FROM $213 MILLION TO $66 MILLION.

THE TOTAL NUMBER OF PROPERTY OWNERS THROUGHOUT HONG KONG ROSE BY 49 365, FROM 653 422 IN DECEMBER 1982 TO 702 787 IN DECEMBER 1983, AND AGAIN BY 25 155 TO 727 942 IN JUNE 1984.

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