XN000022-1993-10-11 — Page 10

MONDAY, OCTOBER 11, 1993

LAND AND BUILDING ADVISORY COMMITTEE

*

THE LAND AND BUILDING ADVISORY COMMITTEE (LBAC) TODAY (MONDAY)

THE PROPERTY MARKET DISCUSSED THE REPORT ON

FOR THE FIRST NINE MONTHS OF THIS YEAR.

RESIDENTIAL

LBAC, CHAIRED BY MR CHENG HON-KWAN, NOTED THAT THE

MARKET PROPERTY

REMAINED RELATIVELY QUIET IN JANUARY AND FEBRUARY, CONTINUING THE TREND OF THE LATTER PART OF LAST YEAR.

THE MARKET REVIVED IN MARCH AND THE TREND CONTINUED SECOND QUARTER OF THE YEAR.

IN

THE

IT IS BELIEVED THE BUOYANCY IS DUE ΤΟ IMPROVED MARKET

SENTIMENTS.

UNTIL

THE MARKET GENERALLY REMAINED ACTIVE IN JULY AND AUGUST LATE AUGUST WHEN SOME BANKS ANNOUNCED ADDITIONAL ANTI-SPECULATIVE MEASURES. THESE HAVE HAD A DAMPENING EFFECT ON THE MARKET.

THE OFFICE SECTOR OF THE MARKET REMAINED ACTIVE DURING THE REPORTING PERIOD,

HOWEVER, RECENT REPORTS INDICATED A SOFTENING IN THE OFFICE INVESTMENT MARKET DUE TO CHINA'S ECONOMIC AUSTERITY MEASURES AND TIGHTER LOCAL LENDING POLICIES.

OFFICE

CONTINUE RENTALS FOR CENTRAL GRADE A ACCOMMODATION RISE DUE TO LIMITED SUPPLY.

то

HOWEVER,

FOR OTHER OFFICE ACCOMMODATION, PLENTIFUL SUPPLY HAS LIMITED RENTAL INCREASES.

THE

RETAIL

ACTIVE.

HOWEVER,

MARKET HAS ALSO REMAINED VACANCY RATES EXPECTED TO RISE IN THE FORSEEABLE FUTURE, THIS CONSTRAIN INCREASES IN RENTALS AND CAPITAL VALUES.

WITH

WILL

THE DEMAND FOR INDUSTRIAL/GODOWN ACCOMMODATION REMAINED STRONG, IN PARTICULAR FOR MODERN PREMISES IN POPULAR URBAN LOCATIONS.

THE

INDUSTRIAL SUPPLY WILL SITES. TERRITORIES DEVELOPMENTS.

SECTOR IS EXPECTED TO REMAIN CONTINUE TO BE GOOD IN

FIRM FOR URBAN NEW THE PERIPHERAL

THE AUCTION RESULTS DURING THE REPORTING PERIOD EXCEEDED STRENGTH EXPECTATIONS IN MOST INSTANCES AND REFLECTED THE UNDERLYING OF THE MARKET.

LOOKING AHEAD, THE PROPERTY MARKET AS A WHOLE IS ANTICIPATED TO AND THE REMAIN STRONG, DESPITE DEVELOPMENTS ON THE POLITICAL FRONT BANKING SECTOR'S MEASURES TO CURB RESIDENTIAL PROPERTY SPECULATION.

THE MEETING ALSO NOTED THAT THE TERRITORIAL DEVELOPMENT STRATEGY WHICH WAS COMPLETED IN 1984 TO PROVIDE A TERRITORIAL LAND USE,

INCORPORATE PLANNING FRAMEWORK WOULD BE REVIEWED TRANSPORT VARIOUS CHANGES IN PLANNING.

ΤΟ

/THE GOVERNMENT

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