diff --git a/app/helpers/budgets_helper.rb b/app/helpers/budgets_helper.rb
index 179d83ba8..b05c0ea4c 100644
--- a/app/helpers/budgets_helper.rb
+++ b/app/helpers/budgets_helper.rb
@@ -70,7 +70,7 @@ module BudgetsHelper
 
   def current_budget_map_locations
     return unless current_budget.present?
-    if current_budget.valuating_or_later?
+    if current_budget.publishing_prices_or_later? && current_budget.investments.selected.any?
       investments = current_budget.investments.selected
     else
       investments = current_budget.investments
diff --git a/app/models/budget.rb b/app/models/budget.rb
index 3f4bed9a1..93e6a095f 100644
--- a/app/models/budget.rb
+++ b/app/models/budget.rb
@@ -105,8 +105,8 @@ class Budget < ActiveRecord::Base
     Budget::Phase::PUBLISHED_PRICES_PHASES.include?(phase)
   end
 
-  def valuating_or_later?
-    valuating? || publishing_prices? || balloting_or_later?
+  def publishing_prices_or_later?
+    publishing_prices? || balloting_or_later?
   end
 
   def balloting_process?
diff --git a/spec/features/budgets/budgets_spec.rb b/spec/features/budgets/budgets_spec.rb
index b3fa3bee3..a973650f3 100644
--- a/spec/features/budgets/budgets_spec.rb
+++ b/spec/features/budgets/budgets_spec.rb
@@ -230,7 +230,7 @@ feature 'Budgets' do
     let(:heading) { create(:budget_heading, group: group) }
 
     background do
-      Setting['feature.map'] = true
+      Setting["feature.map"] = true
     end
 
     scenario "Display investment's map location markers", :js do
@@ -249,6 +249,46 @@ feature 'Budgets' do
       end
     end
 
+    scenario "Display all investment's map location if there are no selected", :js do
+      budget.update(phase: :publishing_prices)
+
+      investment1 = create(:budget_investment, heading: heading)
+      investment2 = create(:budget_investment, heading: heading)
+      investment3 = create(:budget_investment, heading: heading)
+      investment4 = create(:budget_investment, heading: heading)
+
+      investment1.create_map_location(longitude: 40.1234, latitude: 3.1234, zoom: 10)
+      investment2.create_map_location(longitude: 40.1235, latitude: 3.1235, zoom: 10)
+      investment3.create_map_location(longitude: 40.1236, latitude: 3.1236, zoom: 10)
+      investment4.create_map_location(longitude: 40.1240, latitude: 3.1240, zoom: 10)
+
+      visit budgets_path
+
+      within ".map_location" do
+        expect(page).to have_css(".map-icon", count: 4, visible: false)
+      end
+    end
+
+    scenario "Display only selected investment's map location from publishing prices phase", :js do
+      budget.update(phase: :publishing_prices)
+
+      investment1 = create(:budget_investment, :selected, heading: heading)
+      investment2 = create(:budget_investment, :selected, heading: heading)
+      investment3 = create(:budget_investment, heading: heading)
+      investment4 = create(:budget_investment, heading: heading)
+
+      investment1.create_map_location(longitude: 40.1234, latitude: 3.1234, zoom: 10)
+      investment2.create_map_location(longitude: 40.1235, latitude: 3.1235, zoom: 10)
+      investment3.create_map_location(longitude: 40.1236, latitude: 3.1236, zoom: 10)
+      investment4.create_map_location(longitude: 40.1240, latitude: 3.1240, zoom: 10)
+
+      visit budgets_path
+
+      within ".map_location" do
+        expect(page).to have_css(".map-icon", count: 2, visible: false)
+      end
+    end
+
     scenario "Skip invalid map markers", :js do
       map_locations = []