5.10
FC040/1616
Planned developments of all types of property, in terms of total usable floor area on building plans in respect
of which consent to commence work was given(8), declined by
55% in the first half of 1983 compared with the first half of
1982. This reflects the effect of the present state of
over-supply of all types of property upon the investment intentions of developers. The reduction was more substantial
and commercial and commercial property than
property than for residential
for industrial
property.
Usable floor area of building
plans with consent to commence work
('000 m2)
1st half
1st half
do
1982
1982
1983
change
Residential
Commercial
Industrial
Others
Total
720
373
256
-31
709
415
212
-49
1 588
1 094
334
-69
128
67
82
22
3 145
1 949
884
-55
Source: Buildings Ordinance Office
/Building
(8) The figures on consents to commence work include re-applications submitted after modifications were made to previously approved but not yet executed building plans. Thus, at a time when there are a large number of re-applications, particularly for
particularly for permission to reduce flat sizes, the extent of double-counting may be significant.
48
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