10 Net Income from Fair Value Adjustments of Investment Properties
The measurement of the investment properties led to a gain as of June 30, 2020, of € 1,812.3 million (H1 2019: € 2,258.7 million; see explanatory information in note [D16] “Investment Properties”). This includes € -2.8 million (H1 2019: € 3.9 million) for the measurement of right-of-use assets (IFRS 16).
The figure also includes the valuation result from buildings under construction (new construction/development to hold) that were completed during the reporting period and were moved to the Rental portfolio. A fair value measurement is performed for the first time when the properties are completed. This resulted in a valuation effect of € 26.2 million as of June 30, 2020 (H1 2019: € 17.7 million).
There have been no demonstrable effects connected to the coronavirus pandemic on the fair value of investment properties as of June 30, 2020.
The recognition and valuation of investment properties are explained in detail in the consolidated financial statements for 2019.