5.5
quarter
in (4)
property
Comparing the third quarter of 1986 with the same 1985, the supply of new private residential
in terms of usable floor area completed,
decreased by 14% to 281 000 square metres. In terms of
number of units completed, the supply decreased by 27% to
6 923. Taking the first nine months together, the supply of new private residential property decreased by 28% in terms of floor area, and by 36% in terms of units.
5.6
The demand for most types of residential property
was strong in the third quarter of 1986. This was
flats in
particularly evident for small and medium-sized
well-located and in better-planned developments. There were
signs of some renewed interest in pre-completion purchases of
property. Reflecting active trading in the residential property market, agreements for sale and purchase registered with the Land Office increased significantly, both in numbers
(5) and in value
in the third quarter compared
compared with the
preceding quarter and a year earlier. The number and the value of mortgage arrangements related to the purchase of
/residential
(4) This figure is compiled from monthly returns prepared by the Buildings Ordinance Office. It includes all newly completed residential units for which full occupation permits have been issued, including units completed under the Private Sector Participation Scheme (PSPS), but not those completed under the Home Ownership
(5)
Scheme.
Agreements for sale and purchase
Mortgages other than building mortgages*
No.
Value ($Mn)
No.
Value
($Mn)
1985 Q1
Q2
Q3
1986 Q1
Q2
Q3
2222 222
9 836
6,413
11 449
3,959
15 905
9,517
12 629
4,735
13 238
8,631
21 782
8,373
Q4
15 426
12,404
18 742
8,081
9 725
10,576
15 497
6,152
12 943
9,469
16 890
8,818
16 735
12,787
21 916
8,639
Note: (*) The mortgagee is not obliged to state the purpose of the mortgage. But many of these mortgages are likely to be related to the purchase of residential flats or of other building premises.
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