FC040/1616
supply of private
nine months together, the additional supply
residential property increased by 78% in terms of floor
area, and 45% in terms of units. The total
supply of residential property was thus substantial.
5.6
available
towards the end
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
of the third quarter dampened further
domestic units. Prices and rentals for
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
the demand for
large domestic
/
As regards commercial property (5), the
additional supply of shops and offices in
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
(6) 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 new
supply continued to be in the New Territories. The
current revival in manufacturing. activity has not yet
resulted in a substantial increase in demand
for
industrial space.
/5.8 Planned
(5)
(6)
Commercial property is defined to include offices, shops and miscellaneous commercial premises such as upper floor restaurants.
Industrial property is defined to include flatted factories, specialised factory buildings and storage premises.
34