REIDIN REAL ESTATE INDICES: AUGUST 2013 RESULTS SEPTEMBER 16, 2013

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1 REIDIN REAL ESTATE INDICES: AUGUST 2013 RESULTS SEPTEMBER 16, 2013

2 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES: AUGUST 2013 RESULTS Issue: 57

3 INDEX SUMMARY The residential sales prices for existing homes increased 1.41% in Turkey overall, 1.12% in Adana, 1.00% in Ankara, 0.68% in Antalya, 0.49% in Bursa, 1.79% in Istanbul, 1.48% in Izmir and 1.32% in Kocaeli during August The residential rental prices for existing homes increased 1.17% in Turkey overall, 0.25% in Adana, 0.58% in Ankara, 1.39% in Antalya, 0.20% in Bursa, 1.35% in Istanbul, 1.24% in Izmir and 2.27% in Kocaeli during August 2013.

4 REIDIN TURKEY RESIDENTIAL REIDIN.com PROPERTY EmlakEndeks PRICE INDEX: SALES Satılık-Türkiye Kompozit

5 REIDIN TURKEY RESIDENTIAL REIDIN.com PROPERTY EmlakEndeks PRICE INDEX: SALES Satılık-Türkiye Kompozit

6 % CHANGE IN RESIDENTIAL SALES PRICES The residential sales prices for existing homes increased 1.41% in Turkey overall, 1.12% in Adana, 1.00% in Ankara, 0.68% in Antalya, 0.49% in Bursa, 1.79% in Istanbul, 1.48% in Izmir and 1.32% in Kocaeli during August 2013.

7 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDEX: CHANGES IN RESIDENTIAL SALES PRICES Turkey Composite Index Value: August 2013 % Change in Month % Change in Past Year % 13.95% Adana % 13.99% Ankara % 8.08% Antalya % 14.22% Bursa % 3.23% İstanbul % 17.86% İzmir % 11.66% Kocaeli % 5.50% Base Period: June 2007=100

8 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDEX: RENT

9 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDEX: RENT

10 % CHANGE IN RESIDENTIAL RENTAL PRICES The residential rental prices for existing homes increased 1.17% in Turkey overall, 0.25% in Adana, 0.58% in Ankara, 1.39% in Antalya, 0.20% in Bursa, 1.35% in Istanbul, 1.24% in Izmir and 2.27% in Kocaeli during August 2013.

11 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDEX: CHANGES IN RESIDENTIAL RENTAL VALUES Turkey Composite Index Value: August 2013 % Change in Month % Change in Past Year % 10.00% Adana % 12.08% Ankara % 6.37% Antalya % 8.76% Bursa % 3.90% İstanbul % 11.79% İzmir % 10.15% Kocaeli % 3.12% Base Period: June 2007=100

12 REIDIN TURKEY PRICE-to-RENT RATIOS

13 REIDIN TURKEY GROSS RENTAL YIELDS (%)

14 REIDIN HOUSING AFFORDABILITY INDEX

15 HOUSE PRICES VS. MORTGAGE INTEREST RATES AND MORTGAGE LOANS

16 HOUSE PRICES VS. CONSUMER CONFIDENCE INDEX AND CONSUMER PRICE INDEX

17 MORTGAGE INTEREST RATES and MORTGAGE LOANS

18 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES The REIDIN Turkey Residential Property Price Indices (TRPPIs), supported by GARANTI, are designed to be a reliable and consistent benchmark of housing prices in Turkey. The purpose is to measure the average differences in house prices in a particular geographic market. Methodology Index series are calculated monthly for sales and rent covering 7 major cities (Adana, Ankara, Antalya, Bursa, Istanbul, Izmir and Kocaeli), their 71 districts and 481 sub-districts. The national TRPPI (Turkey Composite Index) is a weighted average ofthose city indices. The REIDIN TRPPIs use a stratified median index approach and are calculated by the Laspeyres price index formula. Indices are set at 100 starting at the beginning of June 2007 (June 2007=100) Coverage REIDIN TRPPI, uses monthly sample of offered/asked listing price data, covering over 200,000 house listings per month.

19 REIDIN-GYODER NEW HOME PRICE INDEX: AUGUST 2013 RESULTS Issue: 33

20 INDEX SUMMARY According to the results of REIDIN-GYODER New Home Price Index, in August 2013 there is 2.66% increase with respect to the previous month and in compliance with August 2012 there is 12.47% increase. According to August 2013 results of REIDIN-GYODER New Home Price Index, Branded Projects in Istanbul European side shows 1.48% increase and 2.00% increase in Asian side. According to August 2013 results, REIDIN-GYODER New Home Price Index shows the increase of 2.95% in 1+1 flat type; increase of 2.79% in 2+1 flat type; increase of 3.01% in 3+1 flat type and increase of 0.31% in 4+1 flat type with respect to the previous month. According to August 2013 results, REIDIN-GYODER New Home Price Index reveals that there is 2.22% increase in 51-75sqm size; 2.48% increase in sqm; 2.71% increase in sqm size; 3.03% increase in sqm and 1.15% increase in 151sqm and bigger sized properties with respect to the previous month.

21 REIDIN-GYODER NEW HOME PRICE INDEX (JAN.2010=100) New Home Index Index Value: August 2013 % Change in Month % Change in Past Year % Change in Base Period % 12.47% 38.90%

22 % CHANGE IN REIDIN-GYODER NEW HOME PRICE INDEX According to the results of REIDIN-GYODER New Home Price Index, in August 2013 there is 2.66% increase with respect to the previous month and in compliance with August 2012 there is 12.47% increase.

23 REIDIN-GYODER NEW HOME PRICE INDEX: ISTANBUL ASIAN-EUROPEAN SIDE PROJECTS (JAN.2010=100) According to August 2013 results of REIDIN-GYODER New Home Price Index, Branded Projects in Istanbul European side shows 1.48% increase and 2.00% increase in Asian side.

24 TYPE OF HOUSES: NUMBER OF ROOMS (JAN.2010=100) According to August 2013 results, REIDIN-GYODER New Home Price Index shows the increase of 2.95% in 1+1 flat type; increase of 2.79% in 2+1 flat type; increase of 3.01% in 3+1 flat type and increase of 0.31% in 4+1 flat type with respect to the previous month.

25 TYPE OF HOUSES: NUMBER OF ROOMS Type of Houses Index Value: August 2013 % Change in Month % Change in Past Year % Change in Base Period % 12.21% 39.70% % 12.70% 43.80% % 12.57% 37.00% % 10.20% 30.70% Base Period: January 2010=100

26 TYPE OF HOUSES: SIZE RANGE (JAN.2010=100) According to August 2013 results, REIDIN-GYODER New Home Price Index reveals that there is 2.22% increase in 51-75sqm size; 2.48% increase in sqm; 2.71% increase in sqm size; 3.03% increase in sqm and 1.15% increase in 151sqm and bigger sized properties with respect to the previous month.

27 TYPE OF HOUSES: SIZE RANGE Type of Houses Index Value: August 2013 % Change in Month % Change in Past Year % Change in Base Period SQM % 12.20% 38.00% SQM % 14.43% 36.40% SQM % 11.80% 40.20% SQM % 11.94% 35.90% 151 SQM % 10.46% 32.00% Base Period: January 2010=100

28 REIDIN-GYODER NEW HOUSING STOCK

29 NEW HOME PRICES vs. MORTGAGE RATES AND CONSUMER CONFIDENCE INDEX

30 NEW HOME PRICES vs. BIST-REIT INDEX AND PRODUCER PRICE INDEX

31 REIDIN-GYODER NEW HOME PRICE INDEX What is? It is the indicator index, which 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. Methodology The monthly REIDIN-GYODER New Home Price 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. Coverage REIDIN-GYODER New Home Price Index is calculated on 70 projects and with a monthly average number of 22,500 properties presented by 27 developers.

32 PARTICIPANT DEVELOPERS

33 REIDIN TURKEY REAL ESTATE INDICATORS Indices REIDIN - GYODER New Home Price Index REIDIN - GYODER Office Index REIDIN - Residential Property Price Index (Sales and Rent) REIDIN - Housing Affordability Index REIDIN - Rental Affordability Index REIDIN - Gross Rental Yield Index Modules REIDIN - Property Valuation Analysis Module REIDIN - Loan-to-Value Calculation Module REIDIN - Price-Rent Ratio Calculation Module

34 CONTACT US REIDIN.com - Istanbul Office Avni Dilligil Sokak, C Blok, No: 7/ , Mecidiyeköy, Istanbul, Turkey T: F: info@reidin.com