Highlight Registration of land documents and search of land registers increased by 14.7% and 9.7% respectively as compared with 2009/10. The number of Integrated Registration Information System (IRIS) Online Services subscribers reached 916 with 164 new customers since reduction of the application fee and minimum deposit for subscriber account on 1 October 2009. Major service improvements introduced include the launch of a new search system and extension of service hours of the online service and enhancement to the Customer Service Hotline service. The Land Registry received an Honourable Mention in the Best Annual Reports Awards 2010 organised by the Hong Kong Management Association, and the Ombudsman’s Awards 2010 for Officers of Public Organisations.

(a) Registration of Land Documents

Documents affecting land are delivered to our Customer Centre at Queensway Government Offices for registration.

In 2010/11, 859,840 land documents were delivered for registration, an increase of 14.7% when compared with 2009/10.

Major types of documents received include sale and purchase agreements (SPAs), assignments, mortgages/legal charges and their respective receipts/discharges/releases which collectively accounted for about 84% of all documents received during the year.

Among the SPAs of all building units delivered for registration in 2010/11, the number of SPAs of residential units and its total consideration were 131,377 (–0.4% from last year) and $566,203 million (+14.2% from last year) respectively. The number of these agreements is generally regarded as a key indicator of the level of activity in the property market.

Land transactions with consideration of not exceeding three million dollars accounted for about 58.3% of all land transactions in 2010/11.

Range of Consideration		2008/09				2009/10				2010/11
(HK$ million)		No.		%		No.		%		No.		%
Less than 1		9,579		12.7		10,076		7.6		4,108		3.1
1 to less than 2		30,434		40.3		48,629		36.9		40,474		30.8
2 to less than 3		13,905		18.4		25,878		19.6		32,051		24.4
3 to less than 5		11,384		15.1		26,507		20.1		27,945		21.3
5 to less than 10		6,278		8.3		13,210		10.0		17,922		13.6
10 or over		3,898		5.2		7,577		5.7		8,877		6.8
Total		75,478		100.0		131,877		100.0		131,377		100.0

Note: Figures in percentage for individual items may not add up to 100% due to rounding