Real estate property and fair value

VVO Group owned a total of 40,760 (40,273) rental apartments at period end. The VVO Non-subsidised segment accounted for 20,019 (19,605) of these homes and the VVO State-subsidised segment for 20,741 (20,668). At the end of the review period, VVO owned apartments in 42 (43) municipalities.

The fair value of VVO's investment properties stood at EUR 3.8 (3.5) billion, with a change in fair value of EUR 73.3 (29.1) million during the review period. The fair value of VVO's investment properties is determined quarterly on the basis of the company's own evaluation. An external expert gives a statement on the valuation of VVO's investment properties. The last valuation statement was issued on the situation as at 31 March 2015. The criteria for determining fair value are presented in the Notes to the Interim Report.

At period end, the plot reserve held by the Group totalled about 115,000 floor sq m (115,000 floor sq m) and its fair value was approximately EUR 40.5 (37.5) million.