Monthly average
sq.ft.
sq.ft.
Vacant 1.4.1964
287,651
Built 1.4.1964-31.3.1966
9,494,109
395,575
Available 1964-1966
9,781,760
Occupied 1964-1966
6,336,889
264,037
Vacant 1.4.1966
3,444,871
Built 1.4.66-31.10.67
2,707,645
142,508
Available
6,152,516
Occupied 1.4.66-31.10.67
3,850,617
202,664
Vacant 31.10.67
2,301,899
Built 1.11.67-31.12.68
1,176,771
84,055
Available
3,478,670
Occupied 1.11.67-31.12.68
3,112,549
222,325
Vacant 1.1.69
366,121
It may be assumed that there is little flatted factory space available for sale or renting at the present time, but the following are rough estimates of what may be completed in 1970:
so.ft.
1st January-30th June
1,565,800
1st July-31st December 1970
5,043,700
6,609,500
Monthly average
sq.ft.
260,966
840,616
550,791
It would appear from these figures that the demand will be satisfied during the year even taking into account the shortfall over 1969. Unfortunately, most of this accommodation is unlikely to be completed until the second half of 1970 which means that demand for the next few months is likely to push rents up even further.
I might just mention that at the present time Government still has vacant nearly 400,000 sq.ft. of Resettlement Factory space, though about 95,000 sq.ft. of this is at Yuen Long.
3.
On the question of whether rent increase control legislation should be re-introduced the following factors appear to be relevant:-
/(1) As