31.2 Quantitative data
Reference Areas:
Health
Investments
Banking
Best Pratices in PZU
| Investment property | 31 December 2017 | 31 December 2016 |
| Own land | 151 | 145 |
| Perpetual usufruct right to land | 3 | 27 |
| Buildings and structures | 2,199 | 1,565 |
| cooperative ownership right to premises | 1 | 1 |
| Total investment property | 2,354 | 1,738 |
| Movement in investment property | 1 January – 31 December 2017 | 1 January – 31 December 2016 |
| Net carrying amount at the beginning of the period | 1,738 | 1,172 |
| Additions (by virtue of): | 918 | 446 |
| - purchase | 63 | 138 |
| - change in composition of the group | 25 | - |
| - transfers from owner-occupied property | - | 13 |
| - transfers from held for sale categories under IFRS 5 | 830 | 295 |
| Reductions (by virtue of): | (200) | (13) |
| - sale and liquidation | (4) | (4) |
| - transfers to owner-occupied property | (157) | (5) |
| - transfers to held for sale categories under IFRS 5 | (39) | (4) |
| Gain (loss) on remeasurement to fair value | (101) | 133 |
| - through profit or loss | (101) | 126 |
| - through other comprehensive income | - | 7 |
| Foreign exchange differences | (1) | - |
| Net carrying amount – at the end of the period | 2,354 | 1,738 |
The item “Perpetual usufruct of land” contains the right to use land for up to 99 years. This right may be traded.
The item “transfers from owner-occupied property” contains the value of properties at their carrying amounts (historical cost less accumulated depreciation and impairment losses) as at the date of transfer, which is the date of the change of use.
The fair value of investment property results from valuations by independent appraisers conducted mainly in 2017.
