WEDNESDAY, FEBRUARY 1. 1989
PRELIMINARY FIGURES OF 1989 PROPERTY REVIEW RELEASED
THE
PRELIMINARY FINDINGS IN THE 1989 PROPERTY REVIEW RELEASED
AT TODAY (WEDNESDAY) INDICATE THAT
THE END OF 1988 VACANCIES IN WERE DOWN
WHILE ON 1987 DOMESTIC AND OFFICE SECTORS COMMERCIAL PREMISES REMAINED MUCH THE SAME.
VACANCIES
IN
HIGH CENT
FOR FLATTED FACTORIES ON THE OTHER HAND, THE SURPRISINGLY SUPPLY IN 1988 AT 1,138,000 SQUARE METRES COUPLED WITH A 27 PER DROP IN TAKE-UP FROM 1987 LEVELS RESULTED IN AN INCREASE IN VACANCY TO 1.7 PER 4.7 PER CENT OF STOCK, UP FROM LAST YEAR'S ALL TIME LOW OF CENT.
PRIVATE DOMESTIC FALL CLASSES }
SHOW
AN
SUPPLY IN 1988 AT AROUND 34,500 UNITS WAS VERY MUCH THE SAME AS
THE
то THAT
PREVIOUS
EXPECTED TWO YEARS AND 1989 IS INCREASE IN SUPPLY OF 9 PER CENT TO AROUND 37,700 UNITS.
IN
THE 1988 TAKE-UP OF DOMESTIC PREMISES, AT 33,900 VIRTUALLY
SUPPLY AND
PER MATCHED
VACANCIES WERE DOWN ABSOLUTE TERMS TO JUST 2.9 PER CENT OF STOCK.
PRIVATE DOMESTIC (LARGE UNITS
-L
100 SQUARE METRES AND ABOVE)
UNITS,
CENT
IN
SUPPLY IN 1988 WAS THE HIGHEST EVER RECORDED, AND AMOUNTED TO 3,150 UNITS WHICH SIGNIFICANTLY EXCEEDED SUPPLY IN 1987 BY SOME 58 PER CENT. SUPPLY IS EXPECTED TO INCREASE BY A MODEST 6 PER CENT IN 1989 TO AROUND 3,350 UNITS.
AND VACANCY
OF LARGE UNITS WAS DOWN 36 PER CENT ON LAST YEAR, TAKE-UP
IN COUPLED WITH THE INCREASED SUPPLY HAS LED TO AN INCREASE LEVELS OF 50 PER CENT OVER 1987, REPRESENTING 6.3 PER CENT OF STOCK.
OFFICES
IN
IN
THE SUPPLY OF OFFICE SPACE AT AROUND 247,000 SQUARE METRES 1988 WAS VERY MUCH THE SAME AS THAT IN 1987. OVER 35 PER CENT WAS SECTOR I AND 52 PER CENT WAS IN SECTOR II. OVERALL SUPPLY IS FORECAST TO INCREASE IN 1989 BY SOME 14 PER CENT TO 282,000 SQUARE METRES, BY CONTRAST 45 PER CENT OF THE FORECAST SUPPLY IS EXPECTED TO SECTOR 1.11.
BUT
BE IN
UP
TAKE-UP AT 354,000 SQUARE METRES WAS MORE THAN 30 PER CENT
TO 124,000 ON LAST YEAR RESULTING IN A FURTHER REDUCTION IN VACANCY
OF SQUARE
THE METRES
AROUND 44 PER CENT OR 2.7 PER CENT OF STOCK.
ΤΟ ONLY TAKE-UP WAS IN SECTOR I PUSHING VACANCIES DOWN DRAMATICALLY, 0.5 PER CENT IN THAT SECTOR.
/COMMERCIAL