Occupation Per- No. of Floors/
139
mits Issued
Units
No. Occupied March 1964
Still Unoccupied
Mar. 1963
1,076
1,014
62
Apr. 1963
955
879
76
May 1963
1.798
1,659
Jun. 1963
1,150
1,026
124
July 1963
1.538
1,357
181
Aug. 1963
1,866
1.614
252
Sep. 1963
1.635
1.276
359
Oct. 1963
1,205
882
323
Nov. 1963
1,802
1,248
554
Dec. 1963
1,846
926
920
Jan. 1964
2,535
774
1,761
Feb. 1964
2,945
341
2,604
Hong Kong
Of the 312 (185) premises which became available in March 1963, the number actually occupied month by month following was as follows:-
April 1963
80 (85)
Kowloon
Of the 764 (264) premises which became available in March 1963, the number actually occupied month by month following was as follows:
is
A question sometimes asked what is the average period premises are empty following the issue of an occupation permit. Averages are not always easy and sometimes produce peculiar results like the 2.8 children in the average family. From figures produced so far one might say that 3 months after occupation certificates, half are occupied with the other half still empty. Thus, 3 months is the mean period as it were but this holds good only if the other half fills up at the same rate as the first half and it is a palatable truth that the "other half generally goes down more slowly. To take this matter further the month by month progress of 1,076 premises which became available in March 1963 and also (449) in March 1962 were examined with the follow- ing results:
Hong Kong Island Kowloon and
New Kowloon
Totals
1963/64 1962/63
312 (185)
764 (264)
1,076
(449)
92
197 (109)
Mav
137 (129)
383 (170)
June
182 (145)
461 (201)
July
220 (159)
528 (221)
August
240 (169)
570 (231)
September
262 (173)
621 (234)
October
278 (175)
656 (238)
November
286 (177)
674 (244)
December
289 (178)
687 (245)
January 1964
292 (178)
705 (248)
February
294 (179)
718 (250)
March
296 (181)
718 (250)
with 16 (4) still vacant.
Vacancies
Mar. 1958 1.150
——
with 46 (14) still vacant.
Vacancies as percentage of year's supply
Vacancies in terms of average month's supply
Supply*
5.871
20%
2.4
12,282
1959 --- 3,708
30%
3.6
11.129
1960 3,697
33%
4.0
7,860
1961 — 1,777
23%
2.7
8,244
1962 - 2,330
>>
28%
3.4
11,294
1963 -- 3,483
31%
3.7
20,861
19
1964 8,055
39%
4.6
(This represents total privately built new domestic accommodation of all types during each financial year. The figures on which vacancies are based is from that completed to the end of February in each year and so the two not being concurrent are marginally different)
(See left)
In each case in 1963/64 the half- way mark was passed in the third month and in both Hong Kong and Kowloon of those premises occupied one year after the granting of occupa- tion permits the average period vacant following such permits was 3.36 months.
The figures in brackets being those for the corresponding months in 1962/63, give an average figure of 2.4 months, or for Hong Kong and Kowloon separately 2.34 and 2.44 respectively: but it must be noted the March 1962 supply of new premises at 449 was less than half that of a year later when March 1963 provided 1,076, and the initial occupation was quicker in the earlier period.
The total vacancies at the end of each March expressed as a percent- age of that year's supply as built by private developers works. out as shown on the table at the bottom.
If the figures for 1964 are adjusted to make allowance for the "above average" accretion in February and March when about one-quarter of the year's supply became available during one-sixth of the year the above figure of 39% is reduced to 33%. The experience of 1961 sug-
THE HONG KONG & FAR EAST BUILDER-VOLUME 19. NUMBER 2