CapitaLand Presentation Sept 2008

26 26 Income Outgrows Housing Prices Index Indices 300 280 Average Selling Price/sqm-GDP per Capita Income per Capita 260 240 220 200 180 160 140 120 100 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Source: JLL Improving Housing Affordability 110 100 90 80 70 00 50 T 1007 1998 Relative affordab ty (Housing price relative to household income, 1507=100| 1999 Source: CEIC, Morgan Stanley Research 2002 2003 More affordable 1 1H 2008 Cap/taLand

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