6.9
Movements in the prices and rentals for property are
not easy to establish using existing statistics. But it does
seem clear that in the first half of 1982, prices and rentals for property in general were either the
as or lower than
their levels in the second half of 1981.
6.10
For residental
property, sales prices have clearly continued to fall during the first half of 1982, although the
extent of the fall was markedly less than in the second half
of 1981.
have continued to level off from the
increasing trend of 1981.
6.11
Rentals
Prices and rentals of commercial property (including
shops and offices), which were increasing during 1981 had
stabilized. But, as might be expected, there were significant
variations between locations. In prime locations, where the
demand has remained strong with the continued expansion of the
tertiary services sectors, prices and rentals remained fairly
firm but in less favourable locations, they have shown signs of easing.
6.12
As regards industrial property, prices have continued
to decline. Rentals, which in 1981 were still increasing,
levelled off. In areas where the vacancy rate in respect of
industrial accommodation was already high, these trends were
more marked.
Consumer prices
6.13
Using the year-on-year rate of increase to remove seasonal distortions, the rate of increase in consumer prices,
as indicated by the various Consumer Price Indexes, was lower in the second quarter than in the first quarter of 1982. The following table shows the movements and the percentage changes in the Consumer Price Indexes (A) and (B) and the Hang Seng
Consumer Price Index:
52
/ Consumer