2.

2 The supply in the public sector at lk,865 units showed an increase of,,685
units or almost 1州。 Ver 1977. Supply is expected further to increase significantly
in the next two years, when over 70,000 units are forecast for completion. Included
1h this figure are the first Home Ownership Scheme flats to come on-stream, comprising
some 11,000 units。

2.多 Although the outturn in the private sector was somewhat lower than anticipated,
over 26 ,000 units were completed during the year, which was an increase of 5,360 units,
or 2州， on 1977. Further increases are expected for 1979 and,980 with completions in
excess of 刃,000 units forecast for each year. This high level of activity is expected
to continue,for, although forecasting beyond two years tends to become rather
speculative,it seems likely that at least 25,000 units will be produced in 1981。
Increases爬 ecreases year by year are as follows:-
Increase/Decrease
Xear Number of Units Built No. 匹
197k 20,765 、一 4，踟。 一 18.8
1975 114,530 一 6,235 一 30.0
1976 15,1425 + 895 + 6.2
1977 20,870 +5,14蛤 ＋ 35。3
1978 26,230 +5,360 +25.7
1979 (30,335) (+14,105) (+15.7)
1980 (31,270) (+ 935) (+ 3.1)
It seems that an outturn of around 刃，以）()units is about an optimum capacity for the
private sector in present 似泳 et circumstances。

3
 corresponding period in 1977 Of note is the reduction in vacancies in some areas,
including Central (down 28%) ,North Point(down 2哪） and Yuen Long in New Territories
(down 2 哪） The only district for concern was Kwai Chung where 8州 of 七hat vacant
related to premises bull七 before 1978.

多 .3 Of the 2,0kG shop units completed in 1978, over half were below 切 square
metres 工n area. Primary shops accounted for the highest percentage, 3劉， in the'80
square metres and over' size range whereas 予1% of secondary shops were in the '20 -
39.9 square metres,ran ge and 3哪 of the tertiary shops had an area below 20 square
metres。 The pattern in regard to shop vacancies was similar so no discernible trend
is thrown up

3.1+ A summary of the supply and demand position over the last five years is as
follows:-
(i) (ii) (iii) (iv) (v) (vi) (vii)
Amount vacant Amount Amount vacant Amount Amount taken
at beginning Amount available at the end taken 即 up as a%of
of year b 喊it ((ii.)+(iii)) of year ((iv）一（ v)) amount built
Year ,ood) (,00 n) (,00 n) ('00 n) ('00 n) ((vi.):(iii))
197k* ,191+ 1081+ 2278 1329 91+9 88
1975* 1329 890 2219 1337 882 99
1976 1609 1075 268k 1016 1668 155
1977 1016 1多 00 2316 917 1399 108
1978 917 1多10 2227 1225 1002 76
1979 1225 (152) (2777)
Averages
,97k-78
1132 231+5 1165 11師 101+
(* excludi rig Mainland New Territories)
12
0FFICl方

LTables 27 一 37J

he 85
t ”
4.1 The outturn for 1978, although considerably down on that for preceding
three years, was far short of the five-year average,1974-78. The 000 square

■
metres completed classified as to:-

州哪 鄒 waS
Grade A
Grade B
Grades C戶

he
t
1。2 While overall supply figure for 1978 fairly close to forecast
it conceals a number of variations rticular supply 1U Sheung Wan, where there

1
p
a
is a large number of small sites, for office use,lying dormant, was down from
70 200 quare metres in 1977 to 41 200 square metres, a drop of 41%. As expe c ted
仔
supply 1U Central further declined creating a tight situation for high-class office
space。 Conversely, supply in Wan Chai was rather better than anticipated,being 必形
up on the forecast. Moreover, the quality of office buildings in this district also
seemed to be improving. The supply for Tsim Sha Tsui was less than half the 1977
supply, but was ,nevertheless,equal to the average supply, 1974-78 Accretions from
Yau Ma Tei and Mong Kok were fairly insignificant, w他le the space at Kai Tak and
Ngau Tau ICok WaS built for owner-occupation. The four districts accoun七ing for nearly
8哪 of the 1978 supply were:-

酈
2
Sheung Wan

偶 鄒 鵝
神． 2
Central
Wan Chai
屹■

Ts im Sha Tsuj
•

15
 4.3 Small units continued to predominate in the 1978 supply, 6哪 of that completed
comprising units of under 50 square metres,compared with 3哪 in 1977. Whereas less
than ，哪 was accounted for by units of more than 200 square metres,1酈 of the previous
year's supply was in this size range。 The position with vacancies was similar where
60% of the units were below 50 square metres and only 6.3% had areas exceeding 200
square metres。 This situation was compounded by the fact that much of the demand
during the year seemed to be for largish areas。 There was little change as regards
the development of centrally air-conditioned buildings,about 70% being so provided
and 3哪 without。

4.1+ A summary of the supply and demand position over the last five years is as
follows:-
(ii (ii) (iii) (iv) (v) (vi) (vii)
Amount vacant Amount Amount Amount taken
at beginning Amount available Amount vacant taken up up as a 侈 of
of year built ((11)+(111)) at end of year ((iv）一（ v)) amount built

46切07 餡
Year (,00 n) (,00 r) ('00 n) (,00 n) (,00 n) ((vi):(:iii)
197k 5 o6 91+5 I必1 1021 斗30
1975 1021 2 奶3 3501+ 25 11 993
1976 2511 2016 必27 2367 2160
1977 2367 2676 50螂 2388 2655

99
1978 2388 1851+ 1+21+2 1多 10 2932
1979 1多 10 (i 600) (2910)

Averages
1 97k.-78
1995 3753 1919 1831+ 92

16
1+ .9 Rents in nearly all areas and grades hardened over tie par, but the overall
increases thrown-up by 一七he analyses were generally fairly modest. The slight downturn
indicated in certain instances can probably be discounted due to the method of sampling.
There was lit七le doubt tha七 the levelling-out process was halted and, in the second half
of the year there were signs of an upturn in most areas,but particularly in Wan Chai.
付ith a reduced supply available in 1979 it seems inevitable that rents will further
increase over the year. However, any dramatic upward movement of rents may Well be arrested
by the expectation of a greatly increased supply in 1980-81。 It is to be hoped that,with
this in mind,we see a fairly orderly progression of rents and not a drive to take advan-
tage of what looks likely to be a fairly short-term situation。 In Grade'A,,average rents
recorded ranged from 勿5.77 in Central to 籐 3 7。15 in Yau Ma Tei while the cheapes 七 Grade'C,
accommodation was Sheung Wan at 籐 26.07. Thus from the top to the bottom there is a
spread of 甘1+9.70. comparison of rents for offices in the main commercial centres,
expressed as percentages of the ave rage rents,by Grades,for Central is as follows:-
Grade A Grade B Grade C
Sheung Wan 53。1+ 73.5 66.8
Wan Chai 51。9 65.7 72.6
Tai Hang 67., 88。9
Tsim Sha Tsui 714.1 88.5 92。2
Yau Ma Tei 1+9.0 63. 予 76.1

1。10 Average purchase prices showed a fairly subs tan tial increase on 1977 as follows:-
Grade B 20。州 )
Grade C )
11+. 蚪 <) ，18
。 。多形
’彎•
，、
‘ 〞 overall
＿ __ _ __ _ ,,
u ▼。‘ ""

Grade D 19.邢 )
Sales, generally, in respect of small units averaging just over 多 0 square metres.
Grade ,A' offices not included in this analysis because li七tle of such accommodation
.1n

is normally for sa though this 1S now changing with the pre一selling of floors in
certain large buildings Central。
j9
 supply of new accomrnoda七ion in the more established districts,the take-up of space at Tuen Mun
is likely to remain a little sluggish; but,as the new town progresses and be comes established
aS an identifiable entity with the necessary infrastructure,includin.r the completion on the
second stage of the Tuen NUh highway,this should be an attractive location for industrialists。
The projected supply of over 18,000 new Housing huthority flats in 七his district over the years
1979-81 should provide for a substantially increased workforce。 Certainly,with nearly 多00 000
Square metres of accommodation in the pipeline for the next two years,developers have
乎ew
every confidence in the future here •
f
只必

A summary 0f the supply and demand position over the last five years is as follows:
b
、•
‘
1
•

(iv) (v) (vi)

‘

(ii)

Amount vacant Amount Amount Amount taken

七a
ay
ne
V O
af 之m
O 、J
at beginning Amount available Amount taken Ut) up as a 萬 of

r
of year built ((11)+(i:i)) at end ((iv):(v)) amount built

'
Year 00 m
(,002 (,00f) ('00 n) ('00 ('00 ii ((vi):(iii))

QU
中•2 b
1974申 2077 多700 5777 2多5多 予 224

1 1
1975申 255多 2061 L+611+ i68i 29多予

L
0'. 口2
1976 1711 2667 4373 1561 2317

．0'
1977 1561 8261 9822 3839 5983
14754 4728 10026

2
1978 3839 10915
1979 '+728 (14702) (19螂0)

Averages 7869 2872 4997 91

5521
1974-78

excluding Mainland New Territories)

24
 PROPERTY REVIEW 19'79 TAbLE_25

SHOPS — SUPPLY,DEMOLI I!ON AND VACANCY (P AR AS .3.1 103.9

硼圓
AMOUNT BUILT
C000 M2)
0
之
0

戶口口•
AMOUNT DEMOLISHED

口口口口口口口口口口口 口． 口口口口口口口口口口
AMOUNT VACANT
口口口自口口口口口 口口 口口 口口 口•口口 AMOUNT VACANT IN PREMISES
BUILT DUR 也 NG THE YEAR UNDER REVIEW
5

彎•■，
1
0

卜•
0

1
0
50

-4

0
(972 (973 1974 1975 1976 1977 !978 (-97必 C98O
NOTE:VACANC IES TO 1974 AND DEMOLITIO NS TO (976
EXCLUDE MA INLAND NEW TERRITORIES
 200

12

PROPERTY REV工E留 1979 11.9

多歹
(Paras 4.1 and +.7)
- STOCK. SUPPLY&VACANCY
7.4

9
(i) (ii) (iii) (iv) (v) 1一 （喊） (vii)
181 Amount built in 1978('00 由 Amount vacant at December 1978
( '00 a!)

(iii) as a
Stock as at o.k

of (ii)
囑
Areas and Districts end 1977 Grade （喊） as a

1
飽

Total
0
('00 ri) 139 多 弘 of (v)

B
C , A B ('00 由 0.
俗

,
"
D
_ --
A
'

-- "
West
―、： 0.1

187

1多
3

8
1
1 9
1 1
Sheung Wan 17 42 2 19.1+ 12
- 17 8.1

7 2 1
8

2 2
80
Central 210

H
87 37.4 125 36 '4.1

71
5

6
2
留an Chai 439
439 511

1
7 28 1 12.2 多 8.9
Mid-levels & P0k Fu Lam 61
38
31
585
99
17
1 50 斗10
32 0.2

'4
1
P 畝 Hang 斗
2966
31 46

"

1
5.7 0.1
North Point 1
12

1
Shau Kei Wan 83 0.2

"-

1
10
Aberdeen 1
6o.o

1
325

-
HONG KONG - 13972 320 527_ 329 多 41
1179 8.乓 15151 75.2 137 309 349 56 851 5.6

2 5.9
1

387
斗• 12.0
Tsirn Sha raui 2091 201 24 12 2 21+0 10.1

483
Yau Ma Tei 1 11+00 14
597 69 159 10.7

382
Mong Kok - 341 必 11 乓5 11.8

90
Hung Horn 90

61
Ho Man Tin { 6].
KOW 以沁N 3983 2歹5 8o 93 12 1+20 10.5 440多 a.9 245 110 87 2 斗斗乓 10.1
Cheung Sha Wan 184 多2 17.4
(

216

1.1 15 15 7.0
Kowloon Tong 5
-

「
Kai Tak 79 98
-

124.1

177 0.9
Ngau Tau Kok 18 125
l

125 694.4 143 0.7

必

,
NEW KOWLOON 286 125 多0
1 255 89.2 541 2.7 工， 15 2.8

9 34

工
Kwai Chung
騙

-

-
Psuen Wan 34
1

0.2

－

-
Yuen Long
1

工
-
5
·

2
NEW TERR工TOE工汨右 多
48 乓8 0.2
TOTAL 18289 680 737 斗22 15 1854 10.1 20143 100.0 382 4必 +州 58 1
多10 6石

98
 TABLE 28
REVIEW 1979 (Param 4.2 and 4.6)
一 SUPPLY FOR 1974 TO 1978 WITH FOR 必ASTS FOR 1979 AND 1980
161

-
（i

. 1
. 1
V
)
( iv) 「（·） 〔 !

甩，
(i)
I (ii) (iii)

優〝
、

j
.
x ＊( (*） 」 斗8

上」
Forecaet of amount to"built ('Co o)
Amount built ('00d)
：》

1979 1980
Aream and Districts
Grade U9
1974 Average Grade
1975 1976 1977 1978
85 1974-1978 Total Total
A B C D A B C D
口參 ＿

r
『

II'‘
14

V· ‘C N C' ('a
Wont

1+21

l
335

斗斗 5
3

63
吵

.
13
•

Sheu鯧 Wan 111+ 412 13

702

工
519

397 36 282

'4
Central 斗37

400
210 424 巧
270

371
228 271 1 9

2
Wan Chai 必

.
,
408

489
79
父

-
511 4
210

227 252 6

•
Pci Hang

11+1
'+6 161 650 650

一
North Point

•
工
Aberdeen

(\
l

HONG KONG 630 1弘6 1556 1179 1329 878 314 1468 2109 232

•
557 斗 2902
1732
233
1

90

97
2 25
Tsim Sha Tsui 167
9668

•
573

【
88 乙

2 6
10

Yau Ma Tei U9 162

「
lii 597
251
61 296
83
41

－
3

斗8
Hong Kok 37 78

8
•
32

〔

Hung Hom 18

工
-
-
KOWLOON 891 386 斗20 5陝 88 10 21 乓9
258

巨
,
35

r
37

Cheung Sha Wan

-

「
斗6 74

32
20

l
Kai Tak
.

98

【
25

－

【

•
Ngau Tau Kok
-

125

工
•
l

工
,
••■．■■■口■■．•－

NEW KOWLOON 7斗 35 82
司
同

f
909
29
工

勰， 29
－
－

13
l

•
l

NEW TERRITORIFS
工

13 29 之9
,

馴，
，開口 口口口口口口口口口口口口口口口 ■目口口口■口口口
『 ，
TOTAL 91+5 2483 2016 2676 1854 1995 891 多 2斗 31+ 1600 2157 乓22 4 3189

255
·

315
 5

13

(Para 4.10)
108
2 1979
4661
OFFICES 一 A4ALYSIS OF1PURCHASE PRICES

•
(I) (II) (III) (Iv) (v)

1976 64
1977 1978
Grade Djatrjct 衍 erage Aver紹． 70 名 0
Avera Avera名 a Average Average
No. of No. of No. of
C•aee Size hice Size Price Size Price
d perd Caae6 C&ee
d
69 perd d perd
」
回 口星〕一―

.75
67

91 28 68
l
24

48 09 09

52
99
10

11
」 18
65

67
10

25
4之
I

2 63
2
51

35
B

44 46
30

28
80

102
•

36

24
6 71ilk
8
多
9
145

乓
21

29
231
12
28
0VER刃乙 130 89 5(刀5 236 91 4919 之刃
17 95

r
1014

「必蘇薇月

區
West

443

0998
16
Sheung Wan

斗
14 7
112

5 95

30
157
,1
Central

43 33
82

75

42
57
29
Wan Chai 必

43
9 l9&
96

33
Tai Hang

92
3

50
Ts加 Sha Tsuj 52

43
30
198
66

52
Yau 勵 Tei 屹 10

83
2
13
Hong Kok 3 1多
3
5 1

63
2
1
7
Cheung Sha Wan 6

OVERALL 235 57 3972 312 68 4058 396 61

司
州

68 801 自6 9
1
24
22

33
3
013

1
31
工 1+1

工 48 - l ( 05
蛤 31+

4
64
48
30
43
148

弘－工

3
7111

6
29
D

1
1

46
12

3036
314
1 52 29

82 74

26
77

OVERALL 171 50 3283 214 40 3488 101 51

 一
一
一
(Para 5.1)

REVIEW 1979

MISCELLANEOUS COMMERCIAL 一SUPPLY FOR 197k TO 1978 WITH FOREOASTS FOR 1979 AND 1980

』曰
)

口
口口口』亂口口口亂口口口亂亂．
口口口口口口口屆

x
. 1
.

.
‘•k

、‘
V
1

j•k
(i) (viii)

j
- ，
‘· 」

1
Forecast of amount to
Amount built('00 n)
be built('00 n)
Areas and Districts
197k Average
1975 1976 1977 1978 1979 1980
1974-1978

48

41

36 13884 56 ko
留eat 2多 1斗

61
必 177 27

2056

33工30136
Sheung Wan 19 17 216 72 57
Central 7 13 2

9714
賽•” Chai 23 100 188 11多 1k5
Mid-levels&Pok Fu Lam 2多
Taj Hang 6 161 2

40885

6k
75 25

5240
■
North Point 164 32 33 51 39
Shau Kei 跚an 53 18 6 26

203
333
Aberdeen 16 19 25 77 13k

,
South 7 6 I

HONG KONG 258 396 359 645 268 385 511 k%

89

「
Tairn SM Paul 28 21 132 180 18

45
Yau 他 Tei 90 116 87

23
53 29
Mong Kok 100 12k 58 28 8

42
57 98
90
17
49
72 2k
12
1k
57
Hung Horn 1 1刃

58
35 65 99
Ho Man Tin 21 5 ，之
KOWLOON 216 321 405 357 330 326 224 190

6111
5
Cheung SM Wan 86

1
153 59 138
Shek Kip Mel 斗 5
Kowloon Tong 22.
18
15
66 6 必

巧飽工

9
馳i Talc 工
22
41
981
32 26 22 17 8

11
Ngau Tau Kok 18 18 之
Lej Yue Nun 斗 11
NEW KOW 以)ON 121 193 179 128 81 140 110 182
38
38

9 70 21

3k5 3 135 l
Kwai C加鼴 io8 70
11 41

1317

112 2
Tsuen Wan
工

1 8 26
Tuen Hun 26 9
17

57
338
8

個．
Yuen Long 27 8 26
1 11

9 1
1

Fanling/Sheung Shui 11
1k

7 多

1
Tai Po 20 8

19I
SM Tin 2
1

6
Saj Kung/Clear Water Bay

NEW TERRITORIES 233 101 99 179 128 148 183 1斗，

TOTAL 828 1011 1042 1多09 807 999 1028 969

l
 TABLE 41
(Para5.3)
PROPERTY REVIEW 1929
MISCELLANEOUS COMMERCIAL - VACANCY DURING 19?4 TO 1978

(i) (ii) (iii) (iv) (V) (vi) (vi)

11
Amount Vacant at December ( •oo ~)

Areas and Districts 1978

1974 1975 1976 1977 1978 Built in Built before
1978 1978
West 64 67 76 89 66 4 62
Sheung Wan 34 25 76 185 74 28 46
Central
Wan Chai
128
-2 126
- 58
130
27
121
28
68 16
- 28
52
Mid-levels & Pok Fu Lam
Tai Hang 10
1
99
-
17
13
76
3
11
-5 3
6
North Point 152 76 92 32 45 27 18
Shau Kei Wan
Aberdeen
-
16
63
38
105
6
64
13
97
11
40
11
57
--
South - - 1 1 - -
HONG KONG 4o6 495 561 621 403 131 272
Tsim Sha Tsui 67 64 115 103 114 70 44
Yau Ma Tei 65 156 202 108 82 31 51
Hong Kok 129 166 115 80 123 46 77
Hung Hom 44 75 47 31 13 1 12
Ho Man Tin 2 31 10 11 6 6 -
KOWLOON 307 492 489 333 338 154 184
Cheung Sha Wan 87 126 154 127 51 4 47
Shek Kip Mei
Kai Tak
22
29
38
57
27
21
-
22
-
9
-8 -
1
Ngau Tau Kok 39 22 7 41 35 11 24
Lei Yue Hun - 22 - 1 - - -
NEW KOWLOON 177 265 209 191 95 23 72
Kwai Chung 220 136 139 158 127 9 118
Tsuen Wan 60 62 75 11 67 52 15
Tuen Mun data not available 5
34
-
4
27
12
- 26
- -
11
Yuen Long
" 37
Fanling/Sheung Shui
Tai Po
" - -9 7
11
-
14
-- -
14
" 7
Sha Tin " 11 - 1 1 - 1
NEW TERRITORIES 28o 255 227 227 246 87 159
TOTAL 1170 1507 1486 1372 1082 395 687
 PROPERTY REVIEW 1379 TABLE 1+1+

nATTED FACTOR丁R痲 - SUPPLY BY S 工ZE RANGES (Para 6.1+)

(
)

曰
.

'1

. 1
口口口口
3.

11

V
(ii) (v)

■口
（喊） (vii) (viii) (ix)

■
■口口
■居
No. of units built in 1978
一

Areas and Districts Up To 100- 200- 1+oo- 600- 800- 1000

49.9 95 90-
.9 199.9 399.9 599.9 799.9 999.9 d
2 2 2
還 皿 工 m d 盧 & OVER

5 －只U
North Point I 46 5
Shau Kei Wan 147 55 10 1 8

唱．
Aberdeen 26 j9 I

丑ONG KONG 41
I 147 101 2多 20 9
H*
m
H 工

0
U 工
nl
g 工

51 36

l
多

KOWLOON 個目
51 多 6 多

7
〞• 鑰 O ‘勺‘
Cheung Sha Wan 31 17 I
多 8
Kai Talc 21 2

7I
Ngau Tau Kok 20多 426 j93 5 10 多7
Lei Yue Nun 6 22 斗1 19
NEW KOWLOON 20多 426 2多0 167 65 64 66

524
98 勵11

9 一5 －一9
月•
Kwai Chung 850 多20 216 1予 29
網 2

Tsuen Wan 多12 74 91

7
•
Tuen Nun 之2 乃 65 21
1

Yuen Long I2 16
口

Fanling/Sheung Shui I 多 1
工

Sha Tin 18 12 7多 1

NEW TERRITORIES 2 1202 482 1+60 162 多5 多多 46

6
0
‘斗
TOTAL 2 1406 1055 842 { j26 117 121
l
2

2
2

9
fb
Oj
絨‘

形 *
必。5 . 多．1 多 .0
一
卜

. Less than 0.0州

 The stock figures for shops and flatted factories in the public sector included in Table 18
are supplied b~ 7 the bodies,Authorities concerned.

In the stock figures for offices, it should be noted that most office space in
what might be termed 11 non-office 11 districts has been built by public utility companies or
other large business concerns for their own occupation.

In respect of the Hainland New 'l 'erritories, the stock figures are taken from the
computer r ating records as at end 1976with ad j ustments for s ubsequent new supply and demolitions.
Excluded are premises not having occupation permits and which have not yet been assessed to rates.

(4) Vacancy:

Vacancies are recorded in. square metres for all non-domestic categories except
specialised factory buildings. · In the case of storage premises the vacancy figures do
not include premises i n the hands of and controlled by godown operators who rent space on
a time basis.

(5) Rental tabulations:

(A) Shops -

(a) Basic sample:

(i) Premises included - Permanent, post-war privately rented units having no

attached living accommodation, other than a cockloft, with usable areas
within the general range 50-70 square metres in the r ated 1'·1etropolitan·.
Area.

(N.B. Premises with cocklofts were avoided where possible, but

because of numbers some eventually had to be tabulated)

(ii) Premises excluded - Pre-war; temporary; Government; premises held on long

leases and/or subject to the payment of construct ion fees or other premia.