of the year's supply of offices offered for sale rose from 24%
(6) in 1977 to 59% in 1981
Prices and rentals of offices
showed signs of easing in the first half of
of 1982, with the
exception of those in prime locations such as Central District
where the current supply of additional office accommodation is
limited and where demand continues to be strong.
5.11
(7) The additional supply of industrial property
in
terms of usable floor area completed, decreased by 6% in the
first half. Demand for industrial accommodation was affected
by the performance and prospects of the manufacturing sector. The decline in demand for industrial property appears to have resulted in private developers adjusting their existing building programmes (but see paragraph 5.12). The supply of
flatted factory space in 1982 is now forecast at just under
one million square metres as compared with the previous
forecast of 1.75 million square metres.
additional supply was concentrated
particularly in Kwai Chung, Tsuen Wan, Tuen Mun and Shatin where the basic infra-structural facilities are not yet fully comparable to those in the urban areas and also labour supply
is less abundant. Hence, these areas have the highest
percentage of vacant factories.
The bulk of the
in the New Territories,
/ 5.12 Planned
(6) See Property Review, 1982 produced by the Rating and Valuation
Department.
(7) Industrial
property is defined to include flatted factories, specialised factory buildings and storage premises.
40