7.
INVESTMENT PROPERTIES (CONTINUED)
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capitalisation rate, terminal capitalisation rate or discount rate will result in a decrease to the fair value of investment
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Notes to the
Financial Statements
For the year ended 31 December 2015
2015
Valuation techniques
Income
capitalisation
rate
Discount rate
Terminal
capitalisation
rate
Price per
square meter
Income capitalisation method
5.74% to 7.42%
-
-
-
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-
4.00% to 8.25% 5.37% to 7.99%
-
Depreciated replacement cost
method
-
-
-
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to €1,386
&DU SDUN Ȝ
to €1,250
2014
Valuation techniques
Income
capitalisation
rate
Discount rate
Terminal
capitalisation
rate
Price per
square meter
Income capitalisation method
5.75% to 7.41%
-
-
-
'LVFRXQWHG FDVK ȵRZ
-
6.25% to 8.25% 5.5% to 7.5%
-
Depreciated replacement cost
method
-
-
-
%XLOGLQJ Ȝ
&DU SDUN Ȝ
Method
Impact on carrying value of properties
Income capitalisation method If income capitalisation rate were to increase by 0.5%, the carrying value of
all the investment properties would decrease by approximately EUR 25.20
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investment properties would decrease by approximately EUR 18.80 million
(85 PLOOLRQ
Depreciated replacement cost
method
If the price per square meter were to increase by 0.5%, the carrying
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method is not applied to other investment properties.
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