12 Investment property under construction
| | | 2016 | | 2015 |
At the beginning of the year | | - | | 3,962 |
Investments | | 22,968 | | 4,605 |
Transfer to investment property | | (6,649) | | (8,567) |
Net gain (loss) from fair value adjustments on investment property under contruction | (1,249) | | - | |
In profit and loss | | (1,249) | | - |
In other comprehensive income | | - | | - |
Transfers out of level 3 | | - | | - |
At the end of the year | | 16,319 | | - |
The investment property under construction in 2016 relates to the projects Domus Magnus in Den Bosch, Aliantus Oud Seyst in Zeist, Ingenhouszhof in Amsterdam and Zonnehuis Theresia in Ouderkerk a/d Amstel. For the year 2015 the project Ingenhouszhof in Amsterdam was under construction.
The investment property under construction is valued by external valuation experts.