REIDIN REAL ESTATE INDICES OCTOBER 2017 RESULTS NOVEMBER 15, 2017

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1 REIDIN REAL ESTATE INDICES OCTOBER 2017 RESULTS NOVEMBER 15, 2017

2 SUPPORTED BY İŞBANK REIDIN-GYODER NEW HOME PRICE INDICES OCTOBER 2017 RESULTS ISSUE 83

3 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 Price Index in October 2017 Price Index in October 2017 Price Index in October 2017 Index in October 2017 there is there is 0.28% increase with "Branded Projects in Istanbul there is an increase of 0.28% 0.35% increase in 51-75sqm size; respect to the previous month Asian side shows 0.11% in 1+1 flat type; increase of 0.23% increase in sqm; and in compliance with increase and 0.34% increase 0.17% in 2+1 flat type; 0.33% increase in sqm October 2016 there is 4.29% in European side. increase of 0.44% in 3+1 flat size; 0.06% increase in 126- increase. type but decrease of -0.06% in 150sqm but -0.07% decrease in 4+1 flat type with respect to 151sqm and bigger sized the previous month. properties with respect to the previous month.

4 Index Value: October 2017 % Change in Past Year % 0.28 %4.29 %77.50 % Change in Month % Change in Base Period (January 2010 = 100) New Home Price Index Oct-10 Oct-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 According to the results of REIDIN-GYODER New Home Price Index in October 2017 there is 0.28% increase with respect to the previous month and in compliance with October 2016 there is 4.29% increase.

5 ISTANBUL ASIAN-EUROPEAN SIDE PROJECTS According to the results of REIDIN-GYODER New Home Price Index in October 2017 "Branded Projects in Istanbul Asian side shows 0.11% increase and 0.34% increase in European side. 0.34% 0.11% point (January 2010 = 100) Europe Asia Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17

6 TYPE OF HOUSES: NUMBER OF ROOMS According to the results of REIDIN- GYODER New Home Price Index (NHI) in October 2017 there is an increase of 0.28% in 1+1 flat type; increase of 0.17% in 2+1 flat type; increase of 0.44% in 3+1 flat type but decrease of -0.06% in 4+1 flat type with respect to the previous month. % 0.28 % 0.17 % 0.44 % (January 2010 = 100) NHI Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17

7 TYPE OF HOUSES: SIZE RANGE According to the results of REIDIN-GYODER New % Home Price Index in October 2017 there is 0.35% % 0.33 increase in 51-75sqm size; 0.23% increase in sqm; 0.33% increase in sqm size; 0.06% increase in sqm but -0.07% decrease in 151sqm and bigger sized properties with respect to % 0.35 % 0.23 % 0.06 the previous month. (January 2010 = 100) sqm sqm sqm sqm 151+ sqm Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17 Aug-17 Sep-17 Oct-17

8 % CHANGE IN NEW HOUSING STOCK Unit Sqm 3.4% 3.1% 2.7% 3.4% 3.1% 3.0% 2.5% 3.2% 0 6 Month's Avr. Aug-17 Sep-17 Oct-17 6 Month's Avr. Aug-17 Sep-17 Oct-17 Last month's data are provisional.

9 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 33 developers.

10 PARTICIPANT DEVELOPERS

11 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

12 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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