THURSDAY, JANUARY 16, 1986
IT SAID AT PRESENT PRICES RANGED BETWEEN $12 000 AND $15 000 PER SQUARE METRE, BUT THERE WERE SIGNS OF AN OVER-SUPPLY EMERGING AND PRICES APPEARED TO BE CONSOLIDATING, IF NOT DECREASING.
ON THE COMMERCIAL (MAINLY SHOPS) SECTOR THE REPORT SAID IT CONTINUED TO SUFFER FROM OVER-SUPPLY ALTHOUGH THE SUPPLY OF NEW COMMERCIAL PREMISES DECREASED BY 10 PER CENT FROM THE SAME PERIOD IN 1984.
THE SUPPLY OF NEW OFFICE SPACE IN THE FIRST 10 MONTHS OF 1985 ROSE SIGNIFICANTLY OVER THAT FOR THE SAME 1984 PERIOD, THE REPORT SAID, LARGELY ATTRACTED BY THE TRADE POTENTIAL IN SOUTH-EAST AS 1A, PARTICULARLY CHINA.
MANY EXISTING COMPANIES HAD EXPANDED THE IR OPERATIONS AND MORE FOREIGN COMPANIES HAD SET UP OFFICES IN HONG KONG WITH A VIEW TO USING HONG KONG AS A REGIONAL BASE OR A SPRINGBOARD TO THE CHINA MARKET.
THE REPORT PREDICTED THAT THE MARKET FOR OFFICE ACCOMMODATION IN CENTRAL WAS LIKELY TO TIGHTEN TEMPORARILY. BUT GIVEN THE NUMBER OF OFFICE PROJECTS IN THE PIPELINE PRICES AND RENTALS WERE NOT EXPECTED TO SHOW MUCH INCREASE.
ON INDUSTRIAL PROPERTY, THE REPORT SAID THE DEMAND FOR HIGH QUALITY INDUSTRIAL ACCOMMODATION APPEARED TO HAVE REMAINED STEADY IN THE SECOND HALF OF 1985 AFTER THE INCREASE IN 1984 AND EARLY 1985, ALTHOUGH THERE WERE CURRENTLY SIGNS OF A SOFTENING OF PRICES DUE POSSIBLY TO THE DROP OF DOMESTIC EXPORTS AND THE THREAT OF PROTECTIONISM IN THE UNITED STATES.
IN CONCLUSION, THE REPORT SAID THE RESIDENTIAL PROPERTY MARKET APPEARED TO HAVE STABILISED OVER THE PAST FEW MONTHS AFTER A RESURGENCE OF TRADING ACTIVITY IN THE MIDDLE OF THE YEAR.
+THE UPWARD TREND OF PRICES AND RENTALS PARTICULARLY FOR MEDIUM AND LARGER-SIZED RESIDENTIAL UNITS SHOWED SIGNS OF LEVELLING OFF, IT SAID.
THERE HAD BEEN A SUBSTANTIAL INCREASE IN THE SUPPLY OF RESIDENTIAL UNITS DURING THE YEAR, AND SUPPLY WAS EXPECTED TO INCREASE IN THE COMING YEAR.
+PRICES AND RENTALS FOR RESIDENTIAL PROPERTY SHOULD THEREFORE REMA IN FAIRLY STABLE IN THE NEAR FUTURE,+ THE REPORT FORECAST.
DEMAND FOR INDUSTRIAL ACCOMMODATION APPEARED TO HAVE BEEN SUSTAINED AT THE CURRENT LEVEL OF PRICES AND RENTALS, BUT THERE WERE CLOUDS ON THE HORIZON DUE TO THE WEAK DOMESTIC EXPORT PERFORMANCE AND THE THREAT OF PROTECTIONISM.
THE PAPER ON PROPERTY SPECULATION SAID IT WAS CONSIDERED THAT THERE WERE BASICALLY TWO FORMS:
1(a)
A
A