5.6
The sharp fall in property prices which occurred in
the last year or so has stabilised in some cases, and there is
renewed interest in buying property, particularly small residential flats with prices within the range of $5,000 to
$7,500 per square metre.
5.7
Several
significant
observations
1982
can be made.
First, in relation to existing stock, the vacancy position
with respect to most types of property, other than
(4) residential, was high at the end of
Second, prices
of large residential flats declined further in the first
quarter, but rentals remained firm. Third, the demand for
small residential flats in convenient locations was quite
strong, probably because the earlier price falls and the more
favourable mortgage terms had made flat purchase more attractive and more affordable to owner-occupiers. Fourth,
there was some increase in take-up for arcade shops and offices, probably stimulated by the offer of attractive terms
such as rent-free periods and free fitting-out by landlords. But the market for industrial premises was still depressed.
(4)
/5.8 In
Amount of vacant premises as at the end of:
As a percentage
1980 of stock
(*)
As a percentage 1981 of stock
(*)
As a percentage 1982 of stock
(8)
Residential (units) 17 000
3.6
29 700
5.8
31 700
6.0
Shops ('000 m2)
221.7
8.1
Offices ('000m2)
202.9
8.3
282.2 9.7
301.9 11.0
358.6 11.5
545.4 16.9
Flatted factories
('000m2)
476.1
5.0
795.0
7.5
1 219.0 10.5
Source: Rating and Valuation Department
31
Page 360Page 361
No comments yet.
Private notes are available after approval.