REIDIN REAL ESTATE INDICES APRIL 2017 RESULTS MAY 15, 2017

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1 REIDIN REAL ESTATE INDICES APRIL 2017 RESULTS MAY 15, 2017

2 SUPPORTED BY İŞBANK REIDIN-GYODER NEW HOME PRICE INDICES APRIL 2017 RESULTS ISSUE 77

INDEX SUMMARY İŞBANK s Retail Loans Manager Mr. Recep Haki: By the end of of March 2017, Isbank raised its mortgage loan volume to 18.

Some regulations and arrangements done in recent times, such as increasing loan-to-value ratio and reducing the legal rates of VAT and title deed fees has strengthened expectations for the future.

The mobility brought to the sector through these, positively reflected to the banking sector as an increase in loan volumes. Our campaign with Emlak Konut GYO A.Ş.

3 INDEX SUMMARY İŞBANK s Retail Loans Manager Mr. Recep Haki: By the end of of March 2017, Isbank raised its mortgage loan volume to 18.8 billion with an increase of 6,08%, compared to the year-end and with it s %11,7 market share ISBANK continues to be one of the major players in the sector. Some regulations and arrangements done in recent times, such as increasing loan-to-value ratio and reducing the legal rates of VAT and title deed fees has strengthened expectations for the future. In the first months of 2017, housing sales, which have been off the charts for the last 3 years, prove that this year s sales are going to be at least as good as last year. The mobility brought to the sector through these, positively reflected to the banking sector as an increase in loan volumes. Our campaign with Emlak Konut GYO A.Ş. and GYODER offered low interest rates along with maturity up to 240 months contiuned until March and positively effected our first quarter datas. ISBANK, having a trust on the future of housing sector, continues its investments in this sector by presenting an end to end digital experience from application to lending process for all users regardless of being the bank s customer or not. This innovation is presented to all users experience in the official web site of ISBANK, could be reached by clicking Anında İşlem > Ev Kredisi links.

INDEX SUMMARY According to the results of According to the results of According to the results of According to the

March 2017 there is 0.46% increase with respect to the previous month and in compliance with April 2016 there is 2.

23% increase in European side. Price Index in April 2017 there is an increase of 0.40% in 1+1 flat type; increase of 0.

33% in 4+1 flat Price Index in April 2017 there is 0.35% increase in 51-75sqm size; 0.65% increase in 76-100sqm; 0.

4 INDEX SUMMARY According to the results of According to the results of According to the results of According to the results of REIDIN-GYODER New Home REIDIN-GYODER New Home REIDIN-GYODER New Home REIDIN-GYODER New Home Price Index in March 2017 there is 0.46% increase with respect to the previous month and in compliance with April 2016 there is 2.71% increase. Price Index in April 2017 "Branded Projects in Istanbul Asian side shows 0.50% increase and 0.23% increase in European side. Price Index in April 2017 there is an increase of 0.40% in 1+1 flat type; increase of 0.51% in 2+1 flat type; increase of 0.57% in 3+1 flat type and increase of 0.33% in 4+1 flat Price Index in April 2017 there is 0.35% increase in 51-75sqm size; 0.65% increase in sqm; 0.34% increase in sqm size; 0.52% increase in sqm but type with respect to the 0.27% increase in 151sqm and previous month. bigger sized properties with respect to the previous month.

5 REIDIN-GYODER NEW HOME PRICE INDEX Index Value: April 2017 % Change in Past Year %0.46 %2.71 %74.50 % Change in Month % Change in Base Period (January 2010 = 100) New Home Price Index Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 According to the results of REIDIN-GYODER New Home Price Index in March 2017 there is 0.46% increase with respect to the previous month and in compliance with April 2016 there is 2.71% increase.

REIDIN-GYODER NEW HOME PRICE INDEX ISTANBUL ASIAN-EUROPEAN SIDE PROJECTS According to the results of REIDIN-GYODER New Home Price Index in April 2017 "Branded Projects in

6 REIDIN-GYODER NEW HOME PRICE INDEX ISTANBUL ASIAN-EUROPEAN SIDE PROJECTS According to the results of REIDIN-GYODER New Home Price Index in April 2017 "Branded Projects in Istanbul Asian side shows 0.50% increase and 0.23% increase in European side. 0.23% 0.50% 10.4 point (January 2010 = 100) Europen Asia

7 REIDIN-GYODER NEW HOME PRICE INDEX TYPE OF HOUSES: NUMBER OF ROOMS According to the results of REIDIN- GYODER New Home Price Index (NHI) in April 2017 there is an increase of 0.40% in 1+1 flat type; increase of 0.51% in 2+1 flat type; increase of 0.57% in 3+1 flat type and increase of 0.33% in 4+1 flat type with respect to the previous month. % 0.40 % 0.51 % 0.57 % 0.33 (January 2010 = 100) NHI

8 REIDIN-GYODER NEW HOME PRICE INDEX TYPE OF HOUSES: SIZE RANGE According to the results of REIDIN-GYODER New % 0.27 Home Price Index in April 2017 there is 0.35% % 0.34 increase in 51-75sqm size; 0.65% increase in sqm; 0.34% increase in sqm size; 0.52% increase in sqm and 0.27% increase in 151sqm and bigger sized properties with respect to % 0.35 % 0.65 % 0.52 the previous month. (January 2010 = 100) m m m m m

9 REIDIN-GYODER NEW HOME PRICE INDEX % CHANGE IN NEW HOUSING STOCK Unit SQM 6.5% 6.0% 5.7% 5.4% 3.8% 3.4% 0 Last month's data are provisional.

10 REIDIN-GYODER NEW HOME PRICE INDEX What Is? Methodology Coverage The monthly REIDIN-GYODER New Home Price Index, supported by İŞBANK, is developed from the properties of corporate real estate investment firms generally known as Branded Projects", and recently has been produced in many countries like USA, Australia, Canada. This monthly Index uses a stratified median index approach for index calculation an approach that is widely used for indexing housing prices. Taken January 2010 (January 2010=100) as the base period, is calculated with the formula of Laspeyres. REIDIN-GYODER New Home Price Index is calculated on 70 projects and with a monthly average number of properties presented by 32 developers.

11 REIDIN-GYODER NEW HOME PRICE INDEX PARTICIPANT DEVELOPERS

12 REIDIN TURKEY REAL ESTATE INDICATORS Indices Supported by İŞBANK REIDIN - Residential Property Price Index (Sales and Rent) REIDIN - GYODER New Home Price Index REIDIN - Housing Affordability Index REIDIN - Rental Affordability Index REIDIN - Gross Rental Yield Index REIDIN Turkey Real Estate Confidence Index and Price Sentiment Index Modules REIDIN - Property Valuation Analysis Module REIDIN - Loan-to-Value Calculation Module REIDIN - Price-Rent Ratio Calculation Module

LEGAL NOTICE Although all values, statements and visual materials in this report are provided, indicated and calculated neatly by REIDIN, we make no warranty, assurance or guarantee that materials

13 LEGAL NOTICE Although all values, statements and visual materials in this report are provided, indicated and calculated neatly by REIDIN, we make no warranty, assurance or guarantee that materials and values are absolutely accurate. REIDIN highly recommends that this report should not be taken as an endorsement of or recommendation on any participation by any intending investor or any other party in any transaction whatsoever. This information is presented exclusively for use by REIDIN clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of REIDIN.

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REIDIN REAL ESTATE INDICES OCTOBER 2017 RESULTS NOVEMBER 15, 2017

REIDIN REAL ESTATE INDICES OCTOBER 2017 RESULTS NOVEMBER 15, 2017 SUPPORTED BY İŞBANK REIDIN-GYODER NEW HOME PRICE INDICES OCTOBER 2017 RESULTS ISSUE 83 INDEX SUMMARY According to the results of According