11 Profit on the Disposal of Properties
Profit on the Disposal of Properties
in € million
Income from the disposal of investment properties
Carrying amount of investment properties sold
Profit on the disposal of investment properties
Income from sale of assets held for sale
Retirement carrying amount of assets held for sale
Revaluation of assets held for sale
Profit on the disposal of assets held for sale
The change in fair value of residential properties held for sale, for which a purchase contract had been signed but for which transfer of title had not yet taken place, led to a gain of € 87.4 million as of December 31, 2021 (2020: € 78.2 million).
The increase in income from the sale of assets held for sale mainly results from the transfer of benefits and encumbrances in the fourth quarter of 2021 for two portfolio transactions of the Deutsche Wohnen Group with a total of 3,126 units in Rhineland-Palatinate, which were visited in May 2021 and certified in August 2021.