# RECORD 416244dcac790a50e1100858c6071c54dd1650ba # TITLE: Analysing location attributes with a hedonic model for apartment prices in Donetsk, Ukraine # YEAR: 2007.0 VENUE: nan DOI: 10.1080/1648715x.2007.9637567 # AUTHORS: Marko Kryvobokov; Mats Wilhelmsson # PAGES: 22 CANDIDATE TABLE PAGES (1-based): [10, 13, 21, 22] # ABSTRACT: A hedonic model is specified for asking prices for apartments in Donetsk (Ukraine). This model is used to determine statistically significant location attributes. These attributes can be used for land assessment in a city where data on the land market are lacking. Distance gradients for CBD accessibility are investigated in different geographical directions. Separate models are created for sub‐samples located inside and outside the city centre. A spatial weight matrix is used to detect spatial autocorrelation. The regression results are compared with the valuation of experts. ===== PAGE 1 (score 5, numeric-paren 0, table-words 0, var-words 5) ===== International Journal of Strategic Property Management ISSN 1648-715X print / ISSN 1648-9179 online © 2007 Vilnius Gediminas Technical University http://www.ijspm.vgtu.lt International Journal of Strategic Property Management (2007) 11, 157–178 ANALYSING LOCATION ATTRIBUTES WITH A HEDONIC MODEL FOR APARTMENT PRICES IN DONETSK, UKRAINE Marko KRYVOBOKOV 1  and Mats WILHELMSSON 2 1 Royal Institute of Technology, Section of Real Estate Planning and Land Law, Stockholm, Sweden and Donetsk National Technical University, Section of Geoinformatics and Geodesy, Artyoma Str. 58, 83000 Donetsk, Ukraine E-mail: k_mark@ukr.net 2 Royal Institute of Technology, Section of Building and Real Estate Economics, Brinellvägen 1, S-100 44 Stockholm, Sweden E-mail: matsw@infra.kth.se Received 13 December 2006; accepted 22 June 2007 ABSTRACT. A hedonic model is specified for asking prices for apartments in Donetsk (Ukraine). This model is used to determine statistically significant location attributes. These attributes can be used for land assessment in a city where data on the land market are lacking. Distance gradients for CBD accessibility are investigated in different geographical directions. Separate models are created for sub-samples located inside and outside the city centre. A spatial weight matrix is used to detect spatial autocorrelation. The regression results are compared with the valuation of experts. KEYWORDS: Location attributes; Land assessment; Apartment prices; Regression; Donetsk 1. INTRODUCTION In Ukraine, land, whether urban or rural, is taxed, while buildings and structures are not. However, in most Ukrainian cities the market for land is underdeveloped. There are few land sales, and many of them involve land sold by the city to the private sector. For ex- ample, according to Thomas (2003), there is effectively no secondary market for land in Kiev. Therefore, the assessed value of urban land in Ukraine is not based on market prin- ciples (Thomas, 2003). Instead, according to “Pattern of technical documentation of mon- etary valuation of land” (1998), assessed value depends on a weighted average of several lo- cation attributes. Valuers, land managers, and urban planners choose these location attributes and weights of their relative importance based on subjective judgements. The process of property assessment can be recognised as “quite subjective” even in coun- tries with a long history of property taxation (Cornia and Slide, 2005). The problem of sub- jectivity in land assessment in Ukraine is de- scribed in detail in Kryvobokov (2004). To in- crease the degree of objectivity in the specifi- cation of a model, he proposes that a list of the most important location attributes that influence values in well-developed foreign real ===== PAGE 10 (score 17, numeric-paren 6, table-words 4, var-words 3) ===== 166 M. Kryvobokov and M. Wilhelmsson apartment attributes and all location at- tributes, denoted LIN (the linear model) and LOG (the log-linear model) in Table 3. Model LOG has higher adjusted R2 than model LIN (77 percent compared to 69 percent). In both models, Build, Area, Cond6, Cond7, DCBD, and Prest are statistically significant. Cond5 is significant in model LIN, whereas FloorT and Phone are significant in model LOG. Where the location attributes are concerned, DWater and DNuis are significant only in model LIN, whereas DSCent and DRail are sig- nificant only in model LOG. Among significant location attributes measured in kilometers in model LIN, the highest coefficients are for DNuis and DWater; the lowest is that for DCBD. At the same time the highest of the significant location coefficients in model LOG is that for DCBD. To investigate the existence of multicolli- nearity, we estimated the maximum of vari- ance inflationary factors (VIF) (Table 3). The principle that VIF in excess of 10 (or tolerance lower than 0.10) indicates multicollinearity is usually used in the literature, see e.g. Seiler et al. (2001) and Des Rosiers et al. (2001). For models LIN and LOG, the magnitudes of VIF are lower than the threshold that indicates no problem with multicollinearity. Importantly, the values of the Moran’s I sta- Table 3. Estimated OLS results for the whole data set le d o m d n a s elb air a V s citsir e tc a r a h c le d o M N I L G O L R I D N I L R I D G O L t n a ts n o C 5 5.0 6 0 3 ) 3 9.0 ( 7 9.7 * ) 3 1.2 2 ( 5 9.6 2 2 5 ) 5 5.1 ( * ) 8 0.2 2 ( 1 9.7 1 r o ol F 2 3.4 4 4 1 - ) 9 6.1 -( 2 0.0 - ) 0 7.0 -( 7 3.8 9 4 1 - ) 0 8.1 -( ) 2 6.0 -( 2 0.0 - T r o ol F 0 3.0 7 5 1 - ) 7 7.1 -( 6 0.0 - * ) 7 2.2 -( 0 6.1 5 8 1 - * ) 5 1.2 -( * ) 3 1.2 -( 6 0.0 - dli u B 4 0.4 8 2 3 * ) 5 7.4 ( 5 1.0 * ) 3 5.6 ( 0 5.5 1 1 3 * ) 4 6.4 ( * ) 8 4.6 ( 5 1.0 e n o h P 6 9.1 1 3 1 ) 5 5.1 ( 8 0.0 * ) 7 8.2 ( 7 9.8 9 0 1 ) 5 3.1 ( * ) 1 6.2 ( 7 0.0 a er A 4 4.8 7 4 * ) 9 5.7 ( 5 6.0 * ) 4 2.7 ( 0 5.1 6 4 * ) 4 2.7 ( * ) 6 4.7 ( 7 6.0 cla B 3 5.8 2 5 - ) 2 5.0 -( 1 0.0 - ) 4 3.0 -( 8 6.5 1 9 - ) 2 9.0 -( ) 4 1.0 -( 7 0.0 - 2 d n o C 6 0.2 1 3 1 ) 7 1.1 ( 2 0.0 ) 0 6.0 ( 2 1.4 1 6 1 ) 6 4.1 ( ) 4 6.0 ( 2 0.0 3 d n o C 8 6.7 6 9 1 ) 3 4.1 ( 2 0.0 ) 2 4.0 ( 6 2.0 9 9 1 ) 3 4.1 ( ) 3 3.0 ( 2 0.0 4 d n o C 0 7.6 2 0 2 ) 5 7.1 ( 4 0.0 ) 1 1.1 ( 0 5.4 0 2 2 ) 4 9.1 ( ) 5 2.1 ( 4 0.0 5 d n o C 3 5.6 6 2 2 * ) 0 1.2 ( 5 0.0 ) 8 5.1 ( 5 3.1 2 3 2 * ) 7 1.2 ( ) 8 7.1 ( 6 0.0 6 d n o C 9 1.0 0 6 4 * ) 6 7.2 ( 3 1.0 * ) 0 5.2 ( 5 7.5 1 6 4 * ) 9 7.2 ( * ) 5 7.2 ( 4 1.0 7 d n o C 8 4.3 1 7 9 * ) 8 1.6 ( 0 3.0 * ) 8 0.6 ( 8 3.1 0 4 9 * ) 9 7.5 ( * ) 6 3.6 ( 1 3.0 ) d e u nit n o c ( ===== PAGE 11 (score 5, numeric-paren 1, table-words 1, var-words 2) ===== 167 Analysing Location Attributes with a Hedonic Model for Apartment Prices in Donetsk, Ukraine tistic are quite large; this suggests that nei- ther model captures the underlying spatial re- lationship very well. As an alternative, we con- sider spatial models to incorporate the spatial structure into the analysis (Anselin, 1988 is the standard reference documenting these models). We have estimated two different kinds of spatial regression models to correct for the underlying spatial relationship. These are a spatial autoregressive model and a spatial er- ror model. The results for the spatial models are presented in the Appendix. Even though the coefficient for spatial dependency is highly significant, none of the estimates for the loca- Note: White heteroskedastic consistent estimates. t-statistics are in parentheses below the coefficients. The asterisk indicates significance at the 5% level. le d o m d n a s elb air a V s citsir e tc a r a h c le d o M N I L G O L R I D N I L R I D G O L ) d e u nit n o c ( D B C D 1 2.8 2 8 - * ) 2 7.6 -( 4 2.0 - * ) 4 2.0 1 -( 7 7.5 3 9 1 - * ) 6 6.7 -( * ) 2 8.6 -( 3 2.0 - t n e C S D 2 6.7 4 - ) 3 2.0 -( 5 0.0 - * ) 1 9.4 -( 7 6.6 9 1 - ) 7 8.0 -( * ) 7 4.3 -( 4 0.0 - p ot S D 0 5.4 6 8 2 - ) 6 3.1 -( 1 0.0 - ) 4 3.0 -( 4 9.5 7 9 5 - * ) 0 9.2 -( ) 6 2.0 -( 0 0.0 - lia R D 2 4.7 3 - ) 1 4.0 -( 1 1.0 - * ) 4 4.5 -( 3 5.3 0 3 * ) 0 3.2 ( * ) 5 2.4 -( 1 1.0 - reta W D 0 6.2 0 7 1 - * ) 9 7.3 -( 1 0.0 - ) 7 3.0 -( 2 8.9 9 2 - ) 8 5.0 -( ) 3 9.0 -( 1 0.0 - si u N D 5 3.6 1 8 2 * ) 0 8.3 ( 3 0.0 ) 4 5.1 ( 4 9.4 8 1 3 * ) 8 1.4 ( ) 9 2.1 ( 3 0.0 ts er P 7 5.1 6 7 4 * ) 7 9.5 ( 9 0.0 * ) 4 7.2 ( 8 1.3 5 4 2 * ) 7 7.2 ( * ) 1 0.2 ( 8 0.0 D B C D · N - - 7 4.7 3 7 * ) 1 9.2 ( ) 5 3.0 ( 1 0.0 D B C D · S - - 6 7.1 6 - ) 2 5.0 -( ) 6 5.1 -( 3 0.0 - D B C D · W - - 2 6.6 4 7 * ) 1 0.5 ( ) 4 7.1 -( 4 0.0 - s n oit a v r e s b O 5 2 3 5 2 3 5 2 3 5 2 3 2 R d e ts u j d A 9 6.0 7 7.0 1 7.0 7 7.0 e ula v- F 6 7.9 3 7 4.7 5 6 7.7 3 0 2.0 5 x a M F I V 6.4 ( D B C D ) 7.3 ( D B C D ) 2.0 2 ( D B C D ) ) D B C D ( 1.6 I s'n a r o M 6 3.7 0 6.3 9 4.6 4 7.3 tion variables change dramatically. None of them are significantly different from the re- sults of the OLS model. Hence, we use the OLS estimates in our econometric analysis. As in Söderberg and Janssen (2001), we analyse whether the CBD accessibility affects the asking price differently in different geo- graphical directions. We divide Donetsk into four parts, North, East, South, and West, with the CBD as the origin, to carry this out. Con- sidering that the area to the east of the CBD is the most prestigious area outside the city centre, area East is used as the default area. So, we introduce three dummies for location ===== PAGE 13 (score 13, numeric-paren 11, table-words 1, var-words 0) ===== 169 Analysing Location Attributes with a Hedonic Model for Apartment Prices in Donetsk, Ukraine le d o m d n a s elb air a V s citsir e tc a r a h c le d o M N I L G O L R I D N I L R I D G O L t n a ts n o C 9 3.9 4 7 1 6 * ) 1 2.2 ( 5 0.9 * ) 7 0.7 ( 9 5.4 1 5 0 1 * ) 0 5.3 ( 8 8.8 * ) 5 6.8 1 ( 1 r o ol F 4 6.9 3 7 7 - * ) 8 2.2 -( 0 2.0 - * ) 4 2.2 -( 0 1.0 4 2 - ) 3 3.0 -( 1 0.0 - ) 2 2.0 -( T r o ol F 4 3.4 3 9 2 - ) 8 4.1 -( 0 1.0 - ) 4 8.1 -( 0 3.7 8 9 - ) 8 3.1 -( 5 0.0 - ) 0 6.1 -( dli u B 3 5.7 9 8 6 * ) 5 6.2 ( 6 1.0 * ) 2 2.2 ( 2 8.1 4 7 3 * ) 7 7.5 ( 0 2.0 * ) 1 7.7 ( e n o h P 5 1.6 8 1 - ) 6 0.0 -( 4 0.0 ) 0 5.0 ( 9 8.8 9 9 ) 0 5.1 ( 6 0.0 * ) 8 1.2 ( a er A 2 0.6 6 5 * ) 0 8.4 ( 6 8.0 * ) 1 8.4 ( 3 1.3 6 3 * ) 7 0.6 ( 3 4.0 * ) 3 5.3 ( cla B 5 8.7 8 2 2 - ) 8 0.1 -( 5 0.0 - ) 0 8.0 -( 0 1.7 9 5 - ) 6 8.0 -( 0 0.0 - ) 8 0.0 -( 2 d n o C 6 5.5 0 2 - ) 6 0.0 -( 1 0.0 - ) 1 1.0 -( 4 4.8 2 8 ) 7 7.0 ( 2 0.0 ) 6 4.0 ( 3 d n o C 3 2.2 9 7 1 ) 8 3.0 ( 4 0.0 ) 3 3.0 ( 3 3.9 4 3 1 ) 2 9.0 ( 2 0.0 ) 1 3.0 ( 4 d n o C 7 5.9 3 2 1 ) 8 3.0 ( 1 0.0 ) 7 0.0 ( 9 8.3 7 4 ) 6 4.0 ( 4 0.0 ) 4 0.1 ( 5 d n o C 5 7.1 5 7 - ) 3 2.0 -( 4 0.0 - ) 3 4.0 -( 2 7.9 9 8 1 ) 0 9.1 ( 9 0.0 * ) 1 2.2 ( 6 d n o C 8 7.5 8 8 9 * ) 8 2.2 ( 2 2.0 ) 5 8.1 ( 4 7.3 0 6 2 * ) 1 0.2 ( 2 1.0 * ) 5 2.2 ( 7 d n o C 4 5.7 4 1 7 ) 4 4.1 ( 5 1.0 ) 7 1.1 ( 1 2.9 1 2 9 * ) 2 4.6 ( 3 3.0 * ) 9 7.5 ( D B C D 5 5.0 6 2 6 - * ) 5 5.2 -( 3 1.0 - * ) 6 0.2 -( 9 3.2 1 6 - * ) 4 6.5 -( 1 3.0 - * ) 5 6.0 1 -( t n e C S D 2 1.6 3 1 1 - ) 8 2.0 -( 2 1.0 - ) 4 4.0 -( 0 8.4 9 7 - * ) 5 7.3 -( 4 0.0 - * ) 6 4.3 -( p ot S D 9 8.3 2 5 3 ) 0 4.0 ( 1 0.0 ) 9 0.0 ( 3 4.7 5 7 2 ) 8 5.1 ( 1 0.0 ) 4 5.0 ( lia R D 6 5.5 8 1 5 - ) 4 8.1 -( 3 8.0 - ) 8 4.1 -( 1 8.7 1 2 - * ) 3 4.2 -( 8 0.0 - * ) 5 9.3 -( reta W D 4 6.7 1 0 8 ) 0 0.1 ( 7 0.0 ) 3 9.0 ( 0 2.2 4 4 1 - * ) 8 2.3 -( 4 0.0 - * ) 3 0.2 -( si u N D 6 1.9 3 8 4 - ) 3 8.0 -( 2 1.0 - ) 4 5.0 -( 1 5.4 2 7 ) 9 9.0 ( 3 0.0 ) 2 7.1 ( ts er P - - 5 1.2 8 2 2 * ) 1 0.3 ( 6 0.0 * ) 2 0.2 ( s n oit a v r e s b O 5 7 5 7 0 5 2 0 5 2 R d e ts u j d A 2 7 4.0 7 4.0 9 6.0 3 7.0 e ula v- F 3 6.4 0 7.4 4 7.0 3 0 8.6 3 F I V x a M 9.8 ( lia R D ) 0.9 ( lia R D ) 0.4 ( lia R D ) 4.3 ( 5 d n o C ) Table 4. Estimated OLS results for split data sets Note: In models LIN_Cent and LOG_Cent, Prest is equal to 1 for all apartments. ===== PAGE 14 (score 24, numeric-paren 0, table-words 10, var-words 4) ===== 170 M. Kryvobokov and M. Wilhelmsson respectively, both are larger than the critical value of 1.57 at the 5% significance level. WSE for sub-samples in total is calculated using the formula ∑ ∑ = = − − ⋅ − − = m i i i m i i i i k n SE k n WSE 1 1 )1 ( ) )1 (( , where: n is the number of observations; k is the number of explanatory variables; i is the count for sub-samples; m is the number of sub- samples; SEi is the standard error in the i-th sub-sample model. The results of WSE estimations are pre- sented and compared with the initial models in Table 5. For linear specifications, the reduc- tion in the standard error is 17 percent, whereas for log-linear specifications it is only 8 percent. According to literature review by Watkins (2001), either 5 percent or 10 percent cut off is employed without a strict guidance on the size of the reduction. In our case, the sub-market specifications in a linear form sat- isfy both thresholds, while the log-linear mod- els satisfy only the former one. Thus, Chow-test and WSE estimation indi- cate that two delineated sub-markets are dif- ferent and cannot be described by one hedonic model. There are some interesting findings when it comes to the location variables. DCBD is the only significant location variable in mod- els LIN_Cent and LOG_Cent and the coefficient for DSCent is smaller than that for DCBD. For the linear model the former is 5.5 times smaller than the latter. In models LIN_Out and LOG_Out, all the location variables except DStop and DNuis are significant. LIN_Out is the only linear model where DSCent is signifi- cant. In this model, the coefficient for DSCent is higher than that for DCBD; the coefficient for DWater is 2.4 times higher than that for DCBD. The remarkable point is the compari- son of the coefficients for DCBD in LIN_Cent and LIN_Out. For central locations, it is more than 10 times higher than that for locations outside the centre. At the same time, in model LOG_Out the coefficient for DCBD is the high- est among coefficients for the location vari- ables. For central locations, the insignificant variables DWater and DNuis have unexpected signs. This might be explained by the high den- sity of buildings, which are barriers for the influence of water, green areas and nuisance objects. Though there are dissimilarities between the linear and log-linear models concerning the importance of secondary centres, it seems that these centres in Donetsk are important. There- fore, Donetsk can be considered as a non- monocentric city. The difference between non- monocentric and polycentric urban models is described e.g. in Sivitanidou (1997). Here we do not investigate this difference, but conclude that a monocentric model is not appropriate for Donetsk. Table 5. Weighted standard error tests le d o M r o rr e d r a d n a t S n oitc u d e r t n e c r e P :s n oit a cific e p s r a e ni L N I L 9 7 4 5 t u O _ N I L d n a t n e C _ N I L 8 3 5 4 7 1 :s n oit a cific e p s r a e nil- g o L G O L 4 0 9 5 7 1.0 t u O _ G O L d n a t n e C _ G O L 3 3 3 2 6 1.0 8 ===== PAGE 21 (score 24, numeric-paren 24, table-words 0, var-words 0) ===== 177 Analysing Location Attributes with a Hedonic Model for Apartment Prices in Donetsk, Ukraine APPENDIX Spatial Autoregressive Models (SAR) and Spatial Error Models (SEM) d n a s elb air a V le d o m s citsir e tc a r a h c le d o M G O L R I D G O L R A S M E S R A S M E S t n a ts n o C 7 9.8 * ) 4 0.9 ( 5 1.8 * ) 6 7.1 2 ( 2 1.6 * ) 8 1.9 ( 9 0.8 * ) 4 7.1 2 ( 1 r o ol F 2 0.0 - ) 2 8.0 -( 3 0.0 - ) 9 9.0 -( 2 0.0 - ) 7 7.0 -( 2 0.0 - ) 0 9.0 -( T r o ol F 6 0.0 - * ) 1 5.2 -( 6 0.0 - * ) 3 3.2 -( 6 0.0 - * ) 1 4.2 -( 5 0.0 - * ) 4 2.2 -( dli u B 4 1.0 * ) 1 1.6 ( 6 1.0 * ) 9 5.6 ( 4 1.0 * ) 4 1.6 ( 6 1.0 * ) 8 5.6 ( e n o h P 7 0.0 * ) 7 7.2 ( 6 0.0 * ) 4 5.2 ( 7 0.0 * ) 7 5.2 ( 6 0.0 * ) 3 3.2 ( a er A 0 6.0 * ) 0 4.6 ( 0 6.0 * ) 5 2.6 ( 2 6.0 * ) 6 5.6 ( 1 6.0 * ) 4 4.6 ( cla B 1 0.0 - ) 1 3.0 -( 1 0.0 - ) 8 0.0 -( 1 0.0 - ) 4 1.0 -( 1 0.0 ) 1 1.0 ( 2 d n o C 1 0.0 ) 4 3.0 ( 1 0.0 ) 6 2.0 ( 1 0.0 ) 8 3.0 ( 1 0.0 ) 0 3.0 ( 3 d n o C 2 0.0 ) 9 2.0 ( 1 0.0 ) 1 2.0 ( 1 0.0 ) 5 2.0 ( 1 0.0 ) 6 1.0 ( 4 d n o C 3 0.0 ) 2 8.0 ( 3 0.0 ) 1 7.0 ( 3 0.0 ) 1 9.0 ( 3 0.0 ) 0 8.0 ( 5 d n o C 5 0.0 ) 1 3.1 ( 5 0.0 ) 3 3.1 ( 5 0.0 ) 4 4.1 ( 5 0.0 ) 6 4.1 ( 6 d n o C 2 1.0 * ) 6 5.2 ( 3 1.0 * ) 5 6.2 ( 3 1.0 * ) 0 8.2 ( 4 1.0 * ) 8 8.2 ( 7 d n o C 0 3.0 * ) 2 9.5 ( 0 3.0 * ) 3 8.5 ( 1 3.0 * ) 1 0.6 ( 0 3.0 * ) 4 9.5 ( D B C D 9 1.0 - * ) 1 1.9 -( 3 2.0 - * ) 8 1.1 1 -( 8 1.0 - * ) 5 2.7 -( 1 2.0 - * ) 2 7.7 -( t n e C S D 5 0.0 - * ) 6 2.4 -( 5 0.0 - * ) 4 0.4 -( 4 0.0 - * ) 6 2.3 -( 4 0.0 - * ) 4 8.2 -( p ot S D 1 0.0 - ) 2 3.0 -( 1 0.0 - ) 2 6.0 -( 1 0.0 - ) 2 2.0 -( 1 0.0 - ) 2 5.0 -( lia R D 8 0.0 - * ) 2 3.4 -( 1 1.0 - * ) 6 8.4 -( 8 0.0 - * ) 6 5.3 -( 0 1.0 - * ) 1 0.4 -( reta W D 1 0.0 - ) 6 3.0 -( 1 0.0 - ) 8 6.0 -( 1 0.0 - ) 7 8.0 -( 2 0.0 - ) 7 2.1 -( ) d e u nit n o c ( ===== PAGE 22 (score 10, numeric-paren 8, table-words 1, var-words 0) ===== 178 M. Kryvobokov and M. Wilhelmsson d n a s elb air a V le d o m s citsir e tc a r a h c le d o M G O L R I D G O L R A S M E S R A S M E S ) d e u nit n o c ( si u N D 2 0.0 ) 6 1.1 ( 2 0.0 ) 8 1.1 ( 2 0.0 ) 0 0.1 ( 2 0.0 ) 1 9.0 ( ts er P 9 0.0 * ) 7 8.2 ( 0 1.0 * ) 2 8.2 ( 7 0.0 * ) 7 1.2 ( 8 0.0 * ) 9 0.2 ( D B C D · N - - 1 0.0 ) 5 3.0 ( 1 0.0 ) 2 1.0 ( D B C D · S - - 2 0.0 - ) 0 0.1 -( 4 0.0 - ) 5 5.1 -( D B C D · W - - 3 0.0 - ) 0 6.1 -( 4 0.0 - * ) 7 0.2 -( ρ 1 2.0 * ) 4 7.3 ( - 9 1.0 * ) 1 3.3 ( - λ - 2 2.0 * ) 2 3.3 ( - 1 2.0 * ) 8 1.3 ( s n oit a v r e s b O 5 2 3 5 2 3 5 2 3 5 2 3 d e ts u j d A R2 7 7.0 8 7.0 7 7.0 8 7.0