12. Investment properties
Audited information|
CHF 1,000 |
Residential properties |
Commercial properties |
Properties under construction |
Total investment properties |
|
Market value as at 1 January 2020 |
1,260,330 |
127,713 |
8,765 |
1,396,808 |
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2020 |
637,456 |
121,574 |
8,765 |
767,796 |
|
Increases |
15,586 |
10,072 |
18,940 |
44,599 |
|
Disposals |
–2,903 |
–50,671 |
- |
–53,575 |
|
Reclassifications |
10,342 |
- |
- |
10,342 |
|
Acquisition costs as at 31 December 2020 |
660,481 |
80,975 |
27,706 |
769,162 |
|
|
|
|
|
|
|
Revaluation as at 1 January 2020 |
622,874 |
6,139 |
- |
629,013 |
|
Gains on valuations |
109,721 |
1,272 |
- |
110,993 |
|
Losses on valuations |
–15,498 |
–16,117 |
- |
–31,615 |
|
Disposals |
–11,982 |
2,884 |
- |
–9,099 |
|
Revaluation as at 31 December 2020 |
705,114 |
–5,822 |
- |
699,292 |
|
Market value as at 31 December 2020 |
1,365,595 |
75,153 |
27,706 |
1,468,454 |
|
|
|
|
|
|
|
Market value as at 1 January 2021 |
1,365,595 |
75,153 |
27,706 |
1,468,454 |
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2021 |
660,481 |
80,975 |
27,706 |
769,162 |
|
Increases |
49,232 |
11,013 |
5,212 |
65,456 |
|
Reclassifications |
- |
32,654 |
–32,654 |
- |
|
Acquisition costs as at 31 December 2021 |
709,713 |
124,642 |
263 |
834,617 |
|
|
|
|
|
|
|
Revaluation as at 1 January 2021 |
705,114 |
–5,822 |
- |
699,292 |
|
Gains on valuations |
197,062 |
4,656 |
- |
201,718 |
|
Losses on valuations |
–6,116 |
–11,483 |
- |
–17,599 |
|
Revaluation as at 31 December 2021 |
896,059 |
–12,649 |
- |
883,410 |
|
Market value as at 31 December 2021 |
1,605,772 |
111,993 |
263 |
1,718,028 |
Increases consisted of value-enhancing renovations, purchases of buildings and investments.
In 2021, the investment property under construction “Route d‘Aproz 65” in Sion was reclassified to commercial properties upon completion.
In 2020, the residential property “Rue de la Mairie 6” in Geneva and three commercial properties – “Chemin des Olliquettes 10” in Petit-Lancy, “Rue du Valais 7/9/11” in Geneva and “Chemin de Grély 21” in Sion – were disposed of. The property “Chemin des Chantres 8” in St-Sulpice was reclassified from properties held for sale.
As at 31 December 2021 and 2020, the valuation of investment properties was carried out by CBRE (Geneva) SA in accordance with national and international standards and guidelines.