XN000022-1979-05-21 — Page 5

QUEEN'S COMMENDATION FOR BRAVE CONDUCT

PC CHAU KWONG-TAK

PC NG CHUN-HUNG

PC TANG KWOK-FUNG

SERGEANT TO KWOK-CHIU

ORDER OF ST. JOHN (OFFICER, BROTHER)

MR. PETER NG PING-KIN

ORDER OF ST. JOHN (SERVING BROTHER)

MR. D. SHING-CHEONG KOO

MONDAY, MAY 21, 1979

PROPERTY REVIEW 1979

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COPIES OF THE RATING AND VALUATION DEPARTMENT'S 1979 PROPERTY REVIEW PUBLISHED TODAY (MONDAY) MAY BE OBTAINED FROM THE GOVERNMENT PUBLICATIONS CENTRE.

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THE

COMMENTING ON THE REVIEW AVAILABLE AT $50 EACH COMMISSIONER OF RATING AND VALUATION, MR. R.A. FRY SAID THAT 1978 HAD BEEN ANOTHER EXTREMELY ACTIVE YEAR FOR THE PROPERTY MARKET.

COMPLETIONS IN 1978 AMOUNTED TO A RECORD 2.71 MILLION SQUARE METRES, UP 17 PER CENT ON 1977, AND A FURTHER 30 PER CENT INCREASE IS FORECAST FOR 1979.

THE SUPPLY OF PRIVATE DOMESTIC ACCOMMODATION LAST YEAR AT 26,230 UNITS SHOWED A 25 PER CENT INCREASE ON THE 1977 FIGURE OF 20,870 UNITS. FURTHER INCREASES ARE FORECAST FOR 1979 AND 1980 WITH COMPLETIONS OF OVER 30,000 AND 31,000 NEW UNITS RESPECTIVELY.

MOREOVER, BASED ON KNOWN PROJECTS ONLY, THE PRELIMINARY FORECAST FOR 1981 IS FOR AT LEAST 25,000 UNITS.

THE PRODUCTION OF SMALLER UNITS CONTINUES TO PREDOMINATE, WITH 80 PER CENT OF THE YEAR'S SUPPLY BEING UNDER 60 SQUARE METRES. THE MOST POPULAR SIZE RANGE WAS 30 TO 39.9 SQUARE METRES, INTO WHICH 7,130 UNITS, OR 27 PER CENT OF THE YEAR'S SUPPLY FITTED.

MR. THY