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12. Investment properties

In CHF 1,000

Residential properties

Commercial properties

Properties under construction

Undeveloped plots of land

Total investment properties

Market value as at 1 January 2017

841,961

113,129

64

7,328

962,481

 

 

 

 

 

 

Acquisition costs as at 1 January 2017

332,905

97,747

64

7,328

438,044

Changes in scope of consolidation

61,243

22,857

122

84,221

Increases

18,513

360

11,304

1,673

31,849

Disposals

–4,017

–4,965

–8,982

Reclassifications

–3,211

3,211

–7,328

–7,328

Acquisition costs as at 31 December 2017

405,432

115,999

14,701

1,673

537,804

 

 

 

 

 

 

Revaluation as at 1 January 2017

509,056

15,382

524,438

Gains on valuations

37,336

625

37,962

Losses on valuations

–8,319

–4,126

–563

–13,008

Disposals

–2,187

–97

–2,284

Reclassifications

–689

689

0

Revaluation as at 31 December 2017

535,197

11,785

126

547,108

Market value as at 31 December 2017

940,629

127,784

14,826

1,673

1,084,912

 

 

 

 

 

 

Market value as at 1 January 2018

940,629

127,784

14,826

1,673

1,084,912

 

 

 

 

 

 

Acquisition costs as at 1 January 2018

405,432

115,999

14,701

1,673

537,804

Changes in scope of consolidation

128,240

–19,939

108,301

Increases

60,139

1,489

15,254

76,882

Disposals

–8,033

–7,388

–1,261

–16,682

Reclassifications

–2,536

–3,621

–6,157

Acquisition costs as at 31 December 2018

583,242

90,162

25,073

1,673

700,149

 

 

 

 

 

 

Revaluation as at 1 January 2018

535,197

11,785

126

547,108

Gains on valuations

32,395

552

32,947

Losses on valuations

–5,655

–3,135

–8,790

Disposals

1,092

2,327

3,419

Changes in scope of consolidation

1,039

1,039

Reclassifications

–126

–126

Revaluation as at 31 December 2018

563,029

12,567

575,597

Market value as at 31 December 2018

1,146,271

102,729

25,073

1,673

1,275,746

Increases consisted of value-enhancing renovations, purchases of buildings and investments. 

In 2018, one residential property (Route de Pliany 16–18 in Crans-Montana), one commercial property (Chemin Lambien in Sion) and one property under construction (Route du Lac in Granges-Paccot) were sold. Additionally, the consolidated Group company “Domus Flavia Investments AG” and with it one commercial property (Rue Peillonnex 39 in Chêne-Bourg) was disposed.

In 2017, six residential properties (Avenue Général-Guisan 40 in Pully, Chemin Fagne 1 in Bière, Route de Tsarbouye 61 in Crans-Montana, Route du Pont du Diable 3 in Lens, Rue de la Télérésidence 2 in Lens and one building plot of Route de Crans 87 in Lens) and one commercial property (Chemin de Planchy 15/15a in Bulle) were sold.

The valuation of investment properties was carried out by Wüest Partner AG in accordance with national and international standards and guidelines.