5.12
Planned developments of all types of property, in
terms of total usable floor areas on building plans in respect
of which consent to commence work was given, declined by 11% in the first half(8).
But again, at about 2 million square
metres, the quantity is still substantial. In terms of the
different types of property, there seemed to be a shift from
residential and commercial
property back to industrial
property despite substantial vacancies at the end of 1981. This presumably reflects the large quantity of industrial land
sold recently. Also, developers of residential property
appear to be concentrating on small sized flats again, so that
any decline in terms of the number of residential units to be
built will probably be less.
(8)
/ Building
Usable floor area of building plans with consent to commence work
('000 m2)
1st half
1st half
1981
1981
1982
/09 change
Residential
1 188
718
373
-48
Commercial
1 114
564
415
-26
Industrial
1 743
828
1 094
32
Others
103
70
67
-4
Total
4 147
2 180
1 949
-11
41