XN000022-1984-04-26 — Page 4

THURSDAY, APRIL 26, 1984

3.

+THE SHOP RENTAL INDEX FELL BY 12 PER CENT OVER THE YEAR AND THE PRICE INDEX BY 15 PER CENT.

OFFICES

('000 M2)

VACANCY

SUPPLY

TAKE-UP

VACANCY

AS A % OF STOCK

1982

546

253

573

17.6

1983

591

371

793

20.6

1984

233

+SUPPLY IN 1983 SET A NEW RECORD AND, ALTHOUGH TAKE-UP OVER THE YEAR WAS ALSO THE HIGHEST EVER RECORDED, VACANCIES INCREASED TO NEARLY 800 000 M2 OR THE EQUIVALENT OF 20 PER CENT OF THE YEAR END STOCK.

+SUPPLY IN 1984 IS NOW PUT AT 233 000 M2 WITH A FURTHER 447 000 M2 FORECAST FOR 1985. IN RESPECT OF THE LATTER, JUST OVER HALF IS EXPECTED TO BE GRADE A ACCOMMODATION OF WHICH OVER 95 PER CENT WILL BE ON HONG KONG ISLAND,

THE +THE RENTAL INDEX FELL BY 16 PER CENT OVER THE YEAR. PRICE INDEX SHOWED A CONSIDERABLE FALL OF ABOUT 43 PER CENT WHICH, ALTHOUGH CORRECT IN SO FAR AS IT ACCURATELY REFLECTS THE FEW RECORDED TRANSACTIONS TABULATED, SHOULD PROBABLY BE PARTLY RELATED BACK TO 1982 WHEN A FALL OF ONLY TWO PER CENT WAS RECORDED.

FLATTED FACTORIES

('000 M2)

VACANCY

SUPPLY

TAKE-UP

VACANCY AS A % OF STOCK

1982

1 041

571

1 219

10.5

1983

621

727

1 089

8.9

1984

533

+SUPPLY IN 1983 WAS WELL BELOW THAT OF RECENT YEARS AND THE FORECASTS FOR 1984 AND 1985 SUGGEST A SUBSTANTIAL RESCHEDULING OF DEVELOPMENT PROJECTS.

+AS A RESULT OF INCREASED TAKE-UP AND SMALLER SUPPLY, VACANCIES FELL TO JUST UNDER NINE PER CENT OF TOTAL STOCK COMPARED WITH 10.5 PER CENT A YEAR EARLIER.

+ THE RENTAL