XN000022-1988-01-04 — Page 2

MONDAY, JANUARY 4, 1988

HIGH LEVEL OF PROPERTY MARKET ACTIVITY IN 1987

* *

THE TOTAL NUMBER OF SALE AND PURCHASE AGREEMENTS OF FLATS REGISTERED LAST YEAR DROPPED SLIGHTLY TO 54,868, A DECREASE OF 2.2 PER CENT OVER 1986, THE REGISTRAR GENERAL, MR NOEL GLEESON, SAID TODAY

(MONDAY).

HOWEVER, THE TOTAL AMOUNT OF THE CONSIDERATIONS IN THESE AGREEMENTS INCREASED BY 32.7 PER CENT FROM $41.015 BILLION IN 1986 TO $54.427 BILLION IN 1987.

DURING 1987,

94,436 ASSIGNMENTS OF FLATS WERE REGISTERED, COMPARED WITH 80,487 IN 1986, MR GLEESON SAID WHILE REPORTING ON LAND OFFICE FIGURES.

OF THESE A TOTAL OF 8,107 ASSIGNMENTS WERE COMPLETED BY THE REGISTRAR GENERAL'S DEPARTMENT ON BEHALF OF THE HOUSING AUTHORITY UNDER THE GOVERNMENT'S HOME OWNERSHIP SCHEME, COMPARED WITH 9,775 IN 1986.

THE TOTAL VALUE OF THE CONSIDERATIONS IN ASSIGNMENT OF FLATS INCREASED BY 36.1 PER CENT FROM $45.501 BILLION TO $61.918 BILLION.

THERE WERE 968 ASSIGNMENTS OF LOTS AND SECTIONS, 48.2 PER CENT MORE THAN IN 1986.

THE TOTAL VALUE OF THE CONSIDERATIONS IN ASSIGNMENTS OF LOTS AND SECTIONS DROPPED DURING 1987 BY 36.3 PER CENT FROM $28.122 BILLION IN 1986 TO $17.915 BILLION.

HOWEVER, THE 1987 FIGURE WAS GREATLY IN EXCESS OF THE 1985 FIGURE OF $6.919 BILLION.

100,272 OTHER MORTGAGES 76,004 RESPECTIVELY FOR THE

A TOTAL OF 51 BUILDING MORTGAGES AND WERE REGISTERED, COMPARED WITH 49 AND PREVIOUS YEAR.

THE TOTAL AMOUNT SECURED UNDER BUILDING MORTGAGES REGISTERED DURING THE YEAR DROPPED BY 15.8 PER CENT, FROM $909 MILLION TO $765 MILLION.

THE AMOUNT