medium sized residential flats tried with some success various devices such as concessional interest rates fixed for 3 years, mortgages up to 90% of the actual sales price and price discounts.
5.9
a
few large
In the second quarter, there were marketing exercises and reports suggest that potential home-buyers expressed interest in several developments comprising small flats close to MTR stations. With the reduction in mortgage rates to 16% (subsequently further reduced to 15% on 26th July), each $100,000 of a ten-year mortgage requires a monthly instalment payment of $1,675, compared with $1,999 at the peak mortgage rate of 21%. Although falling, prices are still generally high compared with what they were in 1979 and it is too early
early to assess whether potential home-buyers are yet prepared to take advantage of the present situation of falling prices and lower mortgage rates.
5.10
(5),
in
The additional supply of commercial property terms of usable floor area completed, increased by 22%, despite the amount of vacant commercial premises, particularly shops, being already very substantial. The demand for shop space in 1981 and in the first half of 1982 has been curtailed by previous increases in prices and rentals and presumably by Hong Kong's short term economic prospects. In the market for offices, other than those in
in prime locations and with good managements, there was a further move in the supply and demand situation in favour of buyers. In the past, offices were mostly rented rather than purchased. However, the percentage
/ of
(5) Commercial
property is defined to include offices, shops miscellaneous commercial premises such as upper floor restaurants.
39
and
No comments yet.
Private notes are available after approval.