Major market developments and valuation parameters that have an impact on the fair values of Vonovia are assessed on an ongoing basis. The revaluation* led to a net result from the valuation of € -6,382.9 million for the first six months of the year (H1 2022: € 3,115.9 million).
Buildings under construction (new construction/development to hold) were completed during the reporting period. A fair value measurement is performed for the first time when the properties are completed. This resulted in a valuation effect of € 13.7 million (H1 2022: € 28.9 million) for the period from January 1 to June 30, 2023, with this valuation effect included in the aforementioned valuation result.
The recognition and valuation of investment properties are explained in detail in the consolidated financial statements for 2022.