XN000022-1990-01-12 — Page 14

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FRIDAY, JANUARY 12, 1990

LAND OFFICE FIGURES FOR 1989 RELEASED

REPORTING ON LAND OFFICE FIGURES FOR 1989, THE REGISTRAR GENERAL, MR NOEL GLEESON, SAID TODAY (FRIDAY) THAT THE TOTAL NUMBER OF SALE AND PURCHASE AGREEMENTS OF FLATS REGISTERED FOR THE AREAS HONG KONG ISLAND, KOWLOON AND NEW KOWLOON WAS 61,365, A DECREASE OF 7.7 PER CENT FROM THE FIGURE FOR 1988.

OF

THE TOTAL AMOUNT OF THE CONSIDERATIONS IN THESE AGREEMENTS, HOWEVER, INCREASED BY 12.1 PER CENT FROM $79.986 BILLION IN 1988 TO $89.7 BILLION IN 1989.

DURING 1989, 87,676 ASSIGNMENTS OF FLATS WERE REGISTERED IN THE URBAN AREA, COMPARED WITH 90,486 IN 1988.

BY HIS

OF THESE, A TOTAL OF 10,709 ASSIGNMENTS WERE COMPLETED DEPARTMENT ON BEHALF OF THE HOUSING AUTHORITY UNDER THE GOVERNMENT'S HOME OWNERSHIP SCHEME, COMPARED WITH 4,418 IN 1988.

THE TOTAL VALUE OF THE CONSIDERATIONS IN ASSIGNMENTS OF FLATS INCREASED BY 25 PER CENT FROM $79.096 BILLION TO $98.842 BILLION.

LESS

THERE WERE 760 ASSIGNMENTS OF LOTS AND SECTIONS, 23.4 PER CENT THAN IN 1988. THE TOTAL VALUE OF THE CONSIDERATIONS IN ASSIGNMENTS OF LOTS AND SECTIONS WAS LOWER DURING 1989, BEING DOWN BY 3.8 PER CENT FROM $32.411 BILLION IN 1988 TO $31.176 BILLION.

SIXTY BUILDING MORTGAGES AND 90,822 OTHER MORTGAGES FOR THE URBAN AREA WERE REGISTERED, COMPARED WITH 55 AND 97,423 RESPECTIVELY IN THE PREVIOUS YEAR.

THE TOTAL AMOUNT SECURED UNDER BUILDING MORTGAGES REGISTERED DURING THE YEAR ROSE BY 226.2 PER CENT, FROM $0.783 BILLION TO $2.555 BILLION.

THE AMOUNT SECURED UNDER MORTGAGES OTHER THAN BUILDING MORTGAGES DROPPED BY 19.5 PER CENT, FROM $74.034 BILLION TO $59.597 BILLION.

AREA, A8

REPAYMENTS UNDER MORTGAGES OF ALL KINDS IN THE URBAN EVIDENCED BY DISCHARGES AND MORTGAGEES' RECEIPTS, ROSE BY 22.2 PER CENT, FROM $28.656 BILLION IN 1988 TO $35.03 BILLION IN 1989.

SEARCHES IN THE HONG KONG LAND OFFICE BY MEMBERS OF THE PUBLIC DECREASED BY 6.1 PER CENT TO 1,565,167.

THERE WERE 2,095 SURRENDERS AND RESUMPTIONS OF LAND WITH A TOTAL COMPENSATION OF $1.567 BILLION PAID IN BOTH THE URBAN AREA AND THE NEW TERRITORIES, COMPARED WITH 1,309 AND $0.714 BILLION IN 1988.

/DURING 1989