Land speculation started immediately following the British possession in 1841. It was essential that land be made available immediately to the merchants and others desirous of establishing their business in Hong Kong. Hence, Captain Elliot announced the principle of land disposal by a public notice in Gazette No.1 dated 1 May 1841.
At the first sale of land held on 14 June 1841 in Macau, 33 out of 50 Marine Lots were sold. However, the purchasers could not obtain good title of the purchased land because at the time of sale the early government was temporary with no proper authority to deal in land.
At the first sale of land held on 14 June 1841 in Macau, 33 out of 50 Marine Lots were sold. However, the purchasers could not obtain good title of the purchased land because at the time of sale the early government was temporary with no proper authority to deal in land.
