6 Profit from Disposal of Properties
Profit on the Disposal of Properties
in € million | Jan. 1-Jun. 30, 2021 | Jan. 1-Jun. 30, 2022 | |||
Income from disposal of investment properties | 146.5 | 103.3 | |||
Carrying amount of investment properties sold | -100.4 | -66.5 | |||
Profit from disposal of investment properties | 46.1 | 36.8 | |||
Income from sale of assets held for sale | 210.4 | 2,801.8 | |||
Retirement carrying amount of assets held for sale | -210.4 | -2,796.7 | |||
Revaluation of assets held for sale | 31.5 | 38.3 | |||
Profit from disposal of assets held for sale | 31.5 | 43.4 | |||
77.6 | 80.2 | ||||
The fair value adjustment of residential properties held for sale, for which a purchase contract had been signed but transfer of title had not yet taken place, led to a gain of € 38.3 million as of June 30, 2022 (H1 2021: € 31.5 million). The year-on-year increase in the profit on 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 quarter of 2022 (for more information, please refer to note [D18] Assets and Liabilities Held for Sale).