XN000022-1992-02-14 — Page 10

FRIDAY, FEBRUARY 14, 1992

PRIVATE DOMESTIC

-

SMALL UNITS (LESS THAN 100 SQUARE METRES)

1991, SOME 4,250

MORE

AROUND 31,650 FLATS WERE COMPLETED IN THAN IN 1990, AND, AS EXPECTED, 55 PER CENT OF THESE WERE IN THE NEW TERRITORIES, PREDOMINANTLY IN TSUEN WAN AND TUEN MUN.

IN

TAKE-UP, AT 21,900, WAS DOWN BY 26 PER CENT, RESULTING VACANCY AT THE YEAR END RISING TO ABOUT 29,450, OR 4.1 PER CENT OF STOCK.

AS

ΤΟ

SUPPLY IN 1992 IS FORECAST TO REMAIN AT MUCH THE SAME LEVEL IN 1991, WITH THE AMOUNT COMPLETED IN THE NEW TERRITORIES EXPECTED RISE TO 60 PER CENT, BUT IN 1993, IS EXPECTED TO INCREASE TO 36,200 FLATS, ONE THIRD OF WHICH WILL BE IN TUEN MUN AND SHA TIN.

PRIVATE DOMESTIC

-

LARGE UNITS (100 SQUARE METRES AND OVER)

SUPPLY OF LARGE DOMESTIC UNITS IN 1991, AT 1,750, DROPPED BY ABOUT 13 PER CENT COMPARED WITH 1990.

MID-LEVELS ON HONG KONG ISLAND ACCOUNTED FOR MORE THAN 700 OF THESE. TAKE-UP, HOWEVER, WAS UP ON THE PRECEDING YEAR, BY AROUND 400, RESULTING IN A MARGINAL DROP IN VACANCY TO 3,550, OR 5.9 PER CENT OF. STOCK.

FORECASTS FOR 1992 AND 1993 STAND AT RELATIVELY LOW LEVELS, 1,650 AND 1,900 UNITS RESPECTIVELY.

OFFICES

IN 1991, OVERALL SUPPLY OF OFFICE SPACE, AT 459,000 SQUARE METRES WAS LESS THAN FORECAST, BUT WAS NEVERTHELESS 130 PER CENT UP ON 1990 LEVELS.

то

TAKE-UP AT 239,000 SQUARE METRES WAS ALSO WELL UP COMPARED 1990, BUT STILL FELL SHORT OF SUPPLY, RESULTING IN VACANCY RISING AT THE YEAR END TO 505,000 SQUARE METRES, OR 9.1 PER CENT OF STOCK.

VACANCY AS A PERCENTAGE OF STOCK IS THE HIGHEST SINCE 1985. HOWEVER, THIS IS WELL BELOW THE 21 PER CENT IN 1983.

FORECASTS INDICATE A MASSIVE SUPPLY OF 747,000 SQUARE METRES AND 519,000 SQUARE METRES IN 1992 AND 1993 RESPECTIVELY.

EARLY ESTIMATES ARE THAT A SUBSTANTIAL, ALTHOUGH REDUCED, SUPPLY IS EXPECTED FOR 1994 (APPROXIMATELY 350,000 SQUARE METRES).

THE 1992 TO 1994 SUPPLY IS EXPECTED TO AMOUNT TO ABOUT 30 CENT OF THE TOTAL STOCK OF OFFICE SPACE AT THE END OF 1991.

PER

GRADE A:

SUPPLY OF GRADE A SPACE IN 1991 WAS 281,000 SQUARE METRES, REPRESENTING ABOUT 60 PER CENT OF TOTAL OFFICE SUPPLY.

/THE BULK

Page 10Page 11