XN000022-1993-10-19 — Page 3

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TUESDAY, OCTOBER 19, 1993

THE PROPOSAL SHOULD OBVIATE THE NEED FOR CASH HANDLING CHARGES LEVIED ON BANK CUSTOMERS AND WOULD NOT AFFECT THE LINKED EXCHANGE SYSTEM.

IN CONCLUSION, MR YAM NOTED THAT THE SEMINAR ON MONETARY MANAGEMENT HAD BEEN VERY VALUABLE IN PROVIDING EXPERT VIEWS AND INSIGHT AND THAT SIMILAR SEMINARS WILL BE ORGANISED REGULARLY IN FUTUURE, AND SOME OF THEM WILL BE OF AN INTERNATIONAL NATURE.

LAND REGISTRATION FIGURES FOR SEPTEMBER

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THE TOTAL NUMBER OF SALE AND PURCHASE AGREEMENTS OF BUILDING UNITS, MAINLY FLATS, RECEIVED BY THE LAND REGISTRY FOR REGISTRATION LAST MONTH DECREASED BY 38.6 PER CENT COMPARED WITH THE TOTAL OF THE PREVIOUS MONTH, AND BY 23.2 PER CENT COMPARED WITH SEPTEMBER LAST YEAR.

IN ALL, 9,025 SUCH AGREEMENTS WERE RECEIVED FOR REGISTRATION LAST MONTH. THE TOTAL AMOUNT OF THE CONSIDERATIONS INVOLVED WAS $24.63 BILLION.

THESE FIGURES ARE INCLUDED IN THE MONTHLY STATISTICS RELEASED TODAY (TUESDAY) BY THE LAND REGISTRAR ON PROPERTY TRANSACTIONS RECEIVED FOR REGISTRATION IN THE URBAN AND NEW TERRITORIES LAND REGISTRIES.

A TABLE SHOWING THE RELEVANT STATISTICS FOR AUGUST THIS YEAR AND FOR AUGUST LAST YEAR WAS ALSO RELEASED.

THERE WERE FIVE BUILDING MORTGAGES AND 22,050 OTHER MORTGAGES RECEIVED FOR REGISTRATION LAST MONTH, COMPARED WITH SIX AND 14,946 RESPECTIVELY IN SEPTEMBER LAST YEAR.

MOST OF THE OTHER MORTGAGES WERE MORTGAGES OF ASSIGNMENTS OF UNITS IN RESPECT OF SEVERAL NEW DEVELOPMENTS IN TUEN MUN, TSEUNG KWAN O, TIN SHUI WAI AND MA ON SHAN IN THE NEW TERRITORIES.

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THE TOTAL AMOUNT SECURED UNDER NEW BUILDING MORTGAGES IN THE MONTH WAS $0.13 BILLION COMPARED WITH $0.53 BILLION IN SEPTEMBER YEAR.

THE TOTAL AMOUNT SECURED UNDER NEW MORTGAGES OTHER THAN BUILDING MORTGAGES ROSE BY 120 PER CENT, FROM $6.01 BILLION IN SEPTEMBER LAST YEAR TO $13.21 BILLION IN SEPTEMBER THIS YEAR.

THIS LARGE INCREASE WAS DUE TO A RISE IN THE NUMBER OF MORTGAGES SUBMITTED FOR REGISTRATION IN THE MONTH, SOME OF WHICH INVOLVED HUGE LOANS.

REPAYMENTS UNDER MORTGAGES OF ALL KINDS, AS EVIDENCED BY DISCHARGES AND MORTGAGEE'S RECEIPTS, DECREASED BY 26.5 PER CENT, FROM $3.89 BILLION IN SEPTEMBER LAST YEAR TO $2.86 BILLION IN SEPTEMBER THIS YEAR.

/THE LAND