Property
5.4
In the first half of 1983, the additional supply of
property, in terms of the total usable floor area of all
buildings completed, was 1 657 000 square metres. This represents an increase of 10% compared with the first half of 1982. But there were wide variations among different types of
property.
Usable floor area completed
2
('000 m2)
1st half
1982
1982
1st half 1983
change
Residential
785
331
632
91
Commercial
868
381
506
33
Industrial
Others
1 363
649
471
-27
204
141
49
-65
Total
3 220
1 502
1 657
10
Source: Buildings Ordinance Office
5.5
While in terms of floor area, the additional supply of private residential property increased by 91%, in terms of
units the increase was 55%. In the first half of 1983, 14 790 units (4)
were completed. Given that vacancies amounted to 6% of stock at the end of 1982(5) the total available
supply of residential property was very substantial in the first half of this year.
/5.6 Demand
...
(4) This figure is compiled
compiled from
from monthly
monthly returns
returns prepared by the Buildings Ordinance Office. It includes all newly completed residential units
units with which full occupation permits have been granted. To the extent that there are some completed units not yet with occupation permits, this figure may understate the current number of completions.
(5) See Property Review, 1983 produced by the Rating and Valuation
Department.
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