Over 60 per cent of families in Hong Kong own property and at least half of all financial lending for use in Hong Kong is made against the security of registered property. The Land Registry provides a comprehensive service for registering documents affecting land and keeping land records for public inspection. The table below gives the registry's business volume in 2005.

Land Registry Business Volume in 2005

The registry is implementing major changes to improve the security of title and further enhance the efficiency and accessibility of its services. In February 2005, the launch of the Central Registration System and the IRIS completed the integration of land registration services. It has given Hong Kong a unified land registry service with information services available to all over the Internet.

During the year the Land Registry established new teams to undertake the preparation work needed to replace the present system of deeds registration with a title registration system. The title register provides conclusive evidence of title to property, thus improving the security and ease with which dealings in property can be conducted. The principal legislation to enable this change, the Land Titles Ordinance, was enacted in 2004. Further legislation, information technology (IT) systems and training programmes are required to allow the new system to be launched.