upswing in rents, and steps were taken to bring this under control, first by the Tenancy (Notice of Termination) Ordinance, 1962, requiring landlords in most cases to give six months notice of termination of a tenancy, secondly by the Tenancy (Notice of Termination) (Amend- ment) Ordinance, 1962, giving certain tenants security of tenure up to 30th June 1963, and thirdly by the Rent Increases (Domestic Premises) Control Ordinance, 1963, providing for the temporary control of increases of rent. Although this last measure has for the time being restricted rent increases in those cases to which it applies, there is no doubt but that a great many people are anxious to acquire a flat of their own to free them from the fear of recurrent increases in rent. There is, too, an ever present fear that with rising land values and rising labour costs the longer one puts off buying a flat the more it is going to cost one. The demand is further stimulated by the fact that with rising incomes and prosperity there is more money available in Hong Kong for home buying than ever before. This is well illustrated by the growth in the total amount held by Hong Kong banks on time and savings deposits from $1,374,185,000 and $720,118,000 on 31st March 1962 to $1,932,996,000 and $950,612,000 respectively on 31st March 1963. In addition to flats bought for the owner's personal use many flats are bought for renting as an investment. Finally, there is the constant pressure of an expanding population. To a natural increase of over 90,000 a year there must be added a number of illegal immigrants who flock to the Colony by any available means, however dangerous. As is now part of history, the normal steady flow swelled to a positive flood in May 1962, and the result may be gauged from the fact that the estimated population of the Colony rose in 1962 from 3,226,400 at the beginning of the year to 3,526,500 at the end.
7. While the number of land transactions rose to a new record figure it is noteworthy that the number of assignments dropped from 13,160 in 1961-62 to 10,553. This drop was, however, counterbalanced by an increase in the number of Agreements for Sale and Purchase from 2,161 to 4,636. The total of the considerations expressed in instruments registered rose by $191,000,000 to the new record figure of $2,330,980,000, substantial increases in mortgage transactions out- weighing a drop of $39,000,000 in assignment considerations.
8. As a result of an accelerated land sales programme by the Crown Lands Office, the number of Conditions of Sale of Crown land registered was at 259 up 150% from 1961-62. There was also a 200% increase in the number of Conditions of Regrant registered, and the grand total of
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