Usable floor area of buildings completed
('000 sq.m.)
1985
1st half 1985
1st half 1986
change
Residential
1 461
786
521
(46 043)
(27 113)
(16 406)
- 34
(-39)
Commercial
446
270
265
- 2
Industrial
819
513
361
-30
Others
179
27
91
230
Total
2 905
1 597
1 239
-22
Note: ( ) figures in brackets represent number of units.
Source: Buildings Ordinance Office
5.7
Comparing the first half of 1986 with the first half of 1985, the supply of new private residential property decreased, by 34% to 521 000 square metres in terms of usable floor area completed, and by 39% to 16 406 in terms of the (4) number of units completed
The vacancy rate for
residential property also followed a declining
a declining trend and,
3.7% at the end of 1985, it was the lowest since 1980.
at
5.8
(5)
Demand for small residential flats
remained
relatively strong. Trading appeared to be active, with prices and rentals showing little change in the first half of 1986.
/Increased
(4) This figure is compiled from monthly returns prepared by the Buildings Ordinance Office. It includes all newly completed residential units to which full occupation permits have been granted, including those completed under the Private Sector Participation Scheme, but not those completed under the Home Ownership Scheme. In the first half of 1986, 3 122 HOS/PSPS flats were completed for sale.
(5) Of size 69.9 square metres and below.
42
1
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