Property
14.
After a brief consolidation towards the end of 1991 due to the anti- speculation measures, prices of residential flats continued to rise in the first quarter of 1992. The number of transactions was, however, way below the level recorded just before the introduction of the anti-speculation measures in November last year. Prospective flat buyers generally adopted a wait-and-see attitude, although the low mortgage rate relative to the prevailing rate of inflation still provided some inducement to demand. The market for shopping space was fairly stable. The market for office space continued to face an over-supply, with rentals showing little sign of improvement. The sales market for office strata nevertheless attracted greater interest. As to flatted factory space, the market remained generally quiet.
15.
Investment
16.
The auction of five sites on 13 March was well received.
Retained imports of capital goods increased by 13% (provisional) in real terms in the twelve months ending January 1992 over the preceding twelve months. Within this category, retained imports of industrial machinery for manufacturing use registered an even sharper increase of 20% (provisional). By contrast, building and construction works were rather sluggish due to the winding down of several major projects.
Economic indicators
17. appendix.
The main economic indicators are shown in the following statistical
- 3.
No comments yet.
Private notes are available after approval.