nine
months together,
FC040/1616
the additional supply of private
residential property increased by 78% in terms of floor
area, and 45% in terms of units. The total available supply of residential property was thus substantial.
5.6
Apart from small domestic units, in respect of
which an active market continued, demand for residential
accommodation remained relatively weak in the third
quarter. The increase in mortgage rates towards the end
of the third quarter dampened further the demand for domestic units. Prices and rentals for large domestic
units continued to ease though rentals seemed to be
showing a greater degree of stability, particularly in
locations where demand is now more closely matching supply.
5.7
(5)
/
the
As regards commercial
property additional supply of shops and offices in the first nine
months was also substantial. However, demand for shop
space was generally affected by the relatively slow growth
in consumer spending. Shop space in prime locations nevertheless continued to have a high occupancy rate. The situation was similar for offices. The additional supply of industrial property
in terms of usable floor area
completed, was 40% lower in the first nine months of this
year than in the same period last year. Much of the
supply continued to be in the New Territories. The
current revival in manufacturing activity has not yet
resulted in a substantial increase in demand
industrial space.
(6),
new
for
/ 5.8 Planned
(5) Commercial property is defined to include offices, shops and miscellaneous commercial premises such as upper floor
(6)
restaurants.
Industrial property is defined to include flatted factories, specialised factory buildings and storage premises.
34
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