The Group’s investment properties and their fair values at 31 December 2017 and 2016 are as follows:
| 31 December 2017 | Level 1 | Level 2 | Level 3 | Valuation Method | ||||||||||
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Investment properties in Izmir |
— | — | 52,110 | Replacement cost approach | ||||||||||
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Investment properties in Gebze |
— | — | 16,690 | Income capitalization approach | ||||||||||
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Investment properties in Ankara |
— | — | 15,160 | Market approach | ||||||||||
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Investment properties in Istanbul |
— | — | 13,000 | Market approach | ||||||||||
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Investment properties in Adana |
— | — | 3,150 | Replacement cost approach | ||||||||||
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Investment properties in Balıkesir |
— | — | 3,112 | Replacement cost approach | ||||||||||
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Other investment properties |
— | — | 3,970 | Replacement cost approach | ||||||||||
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Other investment properties |
— | — | 2,146 | Market approach | ||||||||||
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| — | — | 109,338 | ||||||||||||
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| 31 December 2016 | Level 1 | Level 2 | Level 3 | Valuation Method | ||||||||||
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Investment properties in İstanbul: |
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– Istanbul Tepebasi |
— | — | 321,835 | Direct capitalization approach | ||||||||||
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– Kucukcekmece |
— | — | 12,890 | Replacement cost approach | ||||||||||
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Investment properties in Gebze |
— | — | 12,558 | Income capitalization approach | ||||||||||
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Investment properties in Izmir |
— | — | 42,315 | Replacement cost approach | ||||||||||
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Other investment properties |
— | — | 17,419 | Market approach | ||||||||||
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Other investment properties |
— | — | 8,946 | Replacement cost approach | ||||||||||
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Other investment properties |
— | — | 2,410 | Direct capitalization approach | ||||||||||
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Total |
— | — | 418,373 | |||||||||||
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