THURSDAY, FEBRUARY 7, 1991
7
1991 PROPERTY REVIEW PRELIMINARY FIGURES RELEASED
THE PRELIMINARY FINDINGS OF THE PROPERTY REVIEW 1991 SHOW THAT SUPPLY IN 1990, IN ALL SECTORS EXCEPT COMMERCIAL, WAS SOME 20 ΤΟ 30 PER CENT DOWN ON 1989 LEVELS.
A SPOKSMAN FOR THE RATING AND VALUATION DEPARTMENT SAID TODAY (THURSDAY) THAT COMPARED WITH 1989, OVERALL TAKE-UP LEVELS IN 1990 IMPROVED IN ALL SECTORS, WITH THE EXCEPTION OF FLATTED FACTORIES WHERE TAKE UP DROPPED SIGNIFICANTLY.
VACANCY LEVELS AT THE YEAR END, IN OVERALL TERMS, REMAINED FAIRLY CONSTANT, AND GENERALLY AT RELATIVELY LOW LEVELS, WITH THR MOST NOTABLE CHANGES OCCURRING IN THE DOMESTIC CATEGORY, WHERE OVERALL VACANCY WAS DOWN TO 3.5 PER CENT OF STOCK, AND THE OFFICE CATEGORY WHERE VACANCY INCREASED FROM 5.3 PER CENT TO 6.1 PER CENT STOCK.
PRIVATE DOMESTIC
—
SMALL UNITS (LESS THAN 100 SQUARE METRES)
OF
AROUND 27,400 UNITS WERE COMPLETED IN 1990, SOME 6,400 FEWER THAN IN 1989. TAKE-UP, AT JUST UNDER 30,000 UNITS, WAS 40 PER CENT HIGHER THAN IN 1989, RESULTING IN A DROP IN VACANCY, AT THE YEAR RND, TO JUST 3.2 PER CENT OF STOCK.
SUPPLY IN 1991 19 FORECAST TO RISE BY ABOUT 11 PER CENT ON 1990 LEVELS TO 30,400 UNITS AND, IN 1992, IS EXPECTED TO RISE A FURTHER 14 PER CENT TO AROUND 34,700 UNITS.
PRIVATE DOMESTIC
moder
LARGE UNITS (100 SQUARE METRES AND OVER)
SUPPLY OF LARGE DOMESTIC UNITS IN 1990 DROPPED FROM THE 2,700 BUILT IN 1989 TO 2,000. COUPLED WITH A TAKE-UP OF ONLY 1,050
UNITS, VACANCY IN THIS SUB-SECTOR INCREASED IN ABSOLUTE TERMS TO 3,600 UNITS OR 6.2 PER CENT OF STOCK.
SUPPLY IN 1991 AND 1992 IS FORECAST TO REMAIN FAIRLY AT SIMILAR LEVELS TO 1990.
CONSTANT,
OFFICES
IN
IN 1990, OVERALL SUPPLY AT 200,000 SQUARE METRES WAS SOMEWHAT LESS THAN FORECAST IN LAST YEAR'S REVIEW AND 25 PER CENT LESS THAN 1989. TAKE-UP, HOWEVER, WAS UP BY ABOUT 30 PER CENT, BUT, AFFECTED ΤΟ SOME EXTENT BY THE COMPLETION OF 65,000 SQUARE METRES OF GOVERNMENT OFFICES IN WAN CHAI TOWER II, WAS NOT ENOUGH ΤΟ ABSORB THE YEAR'S SUPPLY.
PER HIGHEST
VACANCY AT THE YEAR END, AS A RESULT, ROSE BY ABOUT 18 CENT TO 308,000 SQUARE METRES OR 6.1 PER CENT OF STOCK, THE VACANCY RATE SINCE 1986.
/SECTOR I