XN000022-1995-01-16 — Page 2

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Land Registry releases statistics for December and 1994

The Land Registry received for registration a total of 114,892 sale and purchase agreements of building units, which include both residential and non-residential properties, last year.

The figure represents a decrease of 13.65 per cent and of 15.06 per cent compared with 1993 and 1992 respectively.

The total amount of the considerations involved in these agreements was $423.95 billion, which was up by 21.49 per cent and 31.46 per cent compared with 1993 and 1992 respectively.

During 1994, 137,876 assignments of building units were lodged for registration, compared with 151,501 and 157,920 respectively recorded during 1993 and 1992, showing a decrease of 8.99 per cent and of 12.69 per cent respectively.

However, the total amount of the considerations involved, amounting to $397.91 billion, indicates increases of 21.80 per cent and 34.40 per cent respectively when compared with the two preceding years.

The total amount secured under mortgages (other than building mortgages) was $102.07 billion, showing a decrease of 1.88 per cent and an increase of 15.28 per cent compared with 1993 and 1992 respectively.

The Land Registry today (Monday) released a table summarising the above figures and other related statistics for the year of 1994, together with the corresponding statistics recorded in 1993 and 1992.

Searches of land records made by members of the public during 1994 totalled 3,480,033, up by 4.56 per cent and 8.50 per cent compared with 1993 and 1992 respectively.

The total number of property owners rose by 5.04 per cent from 1,505,003 in December 1992 to 1,580,877 in December 1993 and again by 5.48 per cent to 1,667,563 in December 1994.

Meanwhile, the Land Registry last month (December) received for registration 7,260 sale and purchase agreements for building units, which include both residential and non-residential properties.

The figure represents a decrease of 12.46 per cent and of 33.5 per cent when compared with November 1994 and December 1993 respectively.