Property owners may soon avail of e-Alert services

It's an early email alert to property owners to help prevent property fraud.

According to a statement, the Land Registry is exploring the feasibility of providing a transaction monitoring and notification mechanism - the e-Alert Service - to enhance its quality of services.

Speaking on the publication of the Land Registry Trading Fund 2011-12 report, Land Registrar Olivia Nip said the new service, if introduced, will provide an early email alert to property owners to help prevent property fraud.

Meanwhile, Ms Nip said the impact of the European debt crisis has taken a toll on Hong Kong. She said local economic growth slackened in the second half of 2011, reflected in the property market. This inevitably had a bearing on the government’s revenue, adding the department managed to contain its operating costs despite the drop in business volume.

For the financial year ending March 31, Ms Nip said the Land Registry Trading Fund achieved a profit and total comprehensive income of $98.3 million. The rate of return on fixed assets was 19.7%. The Trading Fund will pay a dividend of $49.2 million to the Capital Investment Fund.