G.F. 326
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- 9.
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stable in overall terms in the first quarter of 1990.
Prices and rentals for offices in prime locations such
as Central held steady, while those in secondary
locations declined somewhat. With an increased supply
of office space coming on stream, prices and rentals
are expected to soften in the near term. The take-up
of shop in well-planned developments in favoured
locations improved moderately during the first
quarter. But prices and rentals in the secondary
shopping areas and in arcades of a lower standard
continued to be dampened by the weak demand.
12.
With the exception of storage premises and
some high-quality industrial accommodation, demand for
most types of industrial property remained weak in the
first quarter of 1990. Price and rentals were
generally static, with declines for premises which are
older or in more remote locations.
13.
Caution should be exercised in interpreting
the figures on investment in property, in view of the
time taken to complete projects. Capital expenditure
is measured at the time the construction work is
undertaken, while consents to commence work are given
before the work starts, i.e. before any significant
expenditure has actually been incurred, and
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