Page 218 - 香港房屋協會 Hong Kong Housing Society Annual Report 2020/2021

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HONG KONG HOUSING SOCIETY ANNUAL REPORT 2020/21
12. Investment properties (continued)
Commercial and residential premises
The carrying value and fair value of completed commercial and residential premises at 31 March 2021 were HK$3,709.4 million (2020: HK$3,882.2 million) and HK$11,149.2 million (2020: HK$11,553.8 million), respectively.
The fair value of completed commercial and residential premises at 31 March 2021 and 2020 have been arrived at on the basis of a valuation carried out on that date by an in-house professional surveyor. The investment properties have been valued individually, on a market value basis, which conforms to Hong Kong Institute of Surveyors Valuation Standards on Properties. The valuation involves the use of certain significant inputs for which the market data are not available. The fair value measurement of the investment properties falls into Level 3 of the fair value hierarchy as defined in HKFRS 13. The valuation was mainly arrived at by reference to comparable market transactions for similar properties and on the basis of capitalisation of net income with due allowance for the reversionary income and redevelopment potential.
12. 投資物業(續) 商業及住宅樓宇
竣工商業及住宅樓宇的賬面值及 公允價值分別為港幣三十七億零 九百四十萬元(二零二零年:港幣 三十八億八千二百二十萬元)及港幣 一百一十一億四千九百二十萬元(二零二 零年:港幣一百一十五億五千三百八十 萬元)。
竣工商業及住宅樓宇於二零二一年及二 零二零年三月三十一日的公允價值，是 由內部專業測量師於當日進行估值。投 資物業乃遵守香港測量師學會物業估值 準則個別地按市值進行重估。該估值使 用重大數據因市場數據未能提供。該投 資物業之公允價值計量根據香港財務報 告準則第十三號被界定為第三級估值。 該估值乃參考相若物業之市場交易及按 收入淨額資本化，並計入租賃期滿後收 入調整及重建之可能性。