CONFIDENTIAL #3
past few months. If the growth rate of domestic exports remains moderate, there is likely to be a dampening effect on the prices and rentals of flatted factories, and signs
of consolidation would be more apparent.
13.
As regards residential property, trading remained generally active in the third quarter, with prices and rentals
continuing to rise. However, prospective buyers of small to medium sized flats have
apparently become more cautious in their
choices.
14.
Caution should be exercised in
interpreting the figures on investment in property, in view of the period that is usually required to complete the projects. Capital expenditure is measured at the time
the construction work is undertaken, while
consents to commence work are given before
the work starts, and thus before any
significant expenditure has actually been incurred, and completions are recorded after
all work is finished. For many projects, it
is likely that the highest level of
expenditure will occur in a year other than
that in which consent is given or that in
which the project is completed.
(b) Capital expenditure on
building and construction
G.F. 326
CONFIDENTIAL # 3
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