8. Investment properties

In 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

2,404

7,215

10,797

20,416

Disposals

–2,905

-

-

–2,905

Acquisition costs as at 30 June 2020

636,954

128,789

19,563

785,307

 

 

 

 

 

Revaluation as at 1 January 2020

622,874

6,139

-

629,013

Gains on valuations

54,001

1,218

-

55,220

Losses on valuations

–6,440

–12,884

-

–19,324

Disposals

–11,980

-

-

–11,980

Revaluation as at 30 June 2020

658,456

–5,527

-

652,928

Market value as at 30 June 2020

1,295,410

123,262

19,563

1,438,235

 

 

 

 

 

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

Changes in scope of consolidation

-

8,900

-

8,900

Increases

30,615

4,018

5,212

39,845

Reclassifications

-

32,654

–32,654

-

Acquisition costs as at 30 June 2021

691,096

126,547

263

817,906

 

 

 

 

 

Revaluation as at 1 January 2021

705,114

–5,822

-

699,292

Gains on valuations

136,264

3,790

-

140,054

Losses on valuations

–1,168

–7,731

-

–8,899

Revaluation as at 30 June 2021

840,210

–9,763

-

830,448

Market value as at 30 June 2021

1,531,306

116,785

263

1,648,354

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

In the 1st half 2021, the consolidated Group company “Rohr AG” was acquired, together with the commercial property “Obere Holzgasse 8” in Hausen. 

In the 1st half 2020, the residential property “Rue de la Mairie 6” in Geneva was disposed of.

As at 30 June 2021 and 2020, the valuation of investment properties was carried out by CBRE (Geneva) SA in accordance with national and international standards and guidelines.