TNAG-0317-FCO40-353-Policy-of-housing-and-resettlement-in-Hong-Kong-problem-of-s-1971 — Page 144

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Monday, March 22, 1971

The supply of new accommodation for 1971 in the large and medium

flat classifications is estimated at 695 and 1,351 units respectively, a

considerable improvement on the 1970 figures, which should help to ease

the present shortage of such accommodation. The estimated completion of

over 3,000 such flats in 1972 is well above the supply in any previous

year and will help further to meet the demand which has increased considerably

in recent years.

Small Flats

Noteworthy is the large number of small flats estimated to be

completed in 1971 and 1972 compared with the rather small number of tenement

floors. Mr. Cooke says these figures illustrate the trend of recent years

to the preference by purchasers and tenants for small self-contained premises

rather than the shared facilities provided by traditional tenement development.

The proportion of new accommodation built for letting is declining

while the trend towards owner-occupation continues. Some 91 per cent of

the 1970 output was initially built for sale compared with 86 per cent

in 1969 and 81 per cent in 1968. The trend towards owner-occupation is

illustrated by an analysis of premises valued for rates during 1970, which

shows that 66.62 per cent of new accommodation was occupied by owners

and their families initially, compared with 57.85 per cent noted in a

similar analysis in 1969. Almost 74 per cent of premises priced at

"$30,000 and below" were initially occupied by owners and their families,

and in only one bracket, "$60,001 to $100,000", is the incidence of

owner-occupation higher.

/Mr. Cooke