11 Profit on the Disposal of Properties
Profit on the Disposal of Properties
in € million
Income from the disposal of properties
Carrying amount of properties sold
Profit from the disposal of investment properties
Income from the sale of assets held for sale
Retirement carrying amount of assets held for sale
Change in value from properties sold
Profit from the disposal of assets held for sale
The fair value adjustment 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 as of December 31, 2022, led to a gain of € 68.0 million (2021: € 87.4 million).
The year-on-year increase in the profit on, and retirement carrying amount from, the disposal of assets held for sale is due primarily to the disposal of properties as part of what is known as the Berlin Deal in the first and third quarter of 2022 (see further information in chapter [D28] Investment Properties).