12. Investment property

Investment property31 December 201331 December 2012
Own land 176 730 187 963
Land perpetual usufruct 32 210 54 672
Buildings and structures 1 259 223 303 066
Cooperative ownership of premises 6 607 18 703
Total investment property 1 474 770 564 404
 
Changes in investment property1 January – 31 December 20131 January – 31 December 2012
Net book value – opening balance 564 404 534 222
Increases (due to) 1 190 779 40 590
- purchase 321 498 26
- change in the consolidation scope 817 858 -
- reclassification from real property used for internal purposes 51 423 40 564
Decreases (due to) (198 754) (38 460)
- sale and liquidation (28 677) -
- reclassification to real property used for internal purposes (46 966) (33 990)
- reclassification to held for sale according to IFRS 5 (123 111) (4 470)
Net gain (loss) on remeasurement at fair value (81 586) 28 200
- recognized in the financial profit/loss (99 206) 7 514
- recognized in other comprehensive income 17 620 20 686
Exchange differences (73) (148)
Net book value – closing balance 1 474 770 564 404

The position “Land perpetual usufruct” contains a right to use a land for up to 99 years. Land perpetual usufruct can be subject of sale.

“Reclassifications from real property for internal purposes” present the carrying amount of real property (historical cost less accumulated depreciation and impairment losses) as at the reclassification (change of use) date. The effect of remeasurement of the aforesaid real property to its fair value as at the reclassification date has been presented as “Gain (loss) on remeasurement to fair value – charged to other comprehensive income” above.

The fair value of investment property results from valuations by independent appraisers having the relevant licenses as required by the law, using the comparable or the income method based on the current market ratios, conducted mainly in 2013.