1# RECORD 63f327f2d844daf6ba970bc6d5f6ab1fc9861dfd2# TITLE: External Factors, Housing Values, and Rents: Evidence from Survey Data3# YEAR: 2000.0 VENUE: Journal of Housing Research DOI: 10.1080/2167034x.2003.124613614# AUTHORS: Vedia Dökmeci; Zeynep Önder; Abdullah Yavas5# PAGES: 26 CANDIDATE TABLE PAGES (1-based): [21, 23, 25]6# ABSTRACT: This study uses a rich survey data to analyze housing values and rents in Istanbul, Turkey. In addition to variables related to location, household characteristics, and the physical characteristics of the property, the data involves a number of “qualitative” questions related to a set of external factors, such as the satisfaction level of the occupants with green area, parks, recreational facilities, transportation, distance to work, and noise. The paper identifies and compares the set of external factors that have a significant impact on property values and rents. Introduction When valuing residential property, one must consider the effects of the external factors as well as the characteristics of the property itself. Typically, these external factors are grouped together under a “location” variable. The principal reason for this practice is that the available data sets, such as the Multiple Listing Data sets, usually do not provide information on individual external factors. The other reason is that most of these external factors, such as noise, view, greenery, and accessability, are difficult to measure. The current study overcomes this problem by generating the data through an extensive survey. The survey was conducted in Istanbul, Turkey and includes questions about the occupants’ level of satisfaction / dissatisfaction with a number of external factors as well as questions about the physical, locational, and household characteristics of the property. The external factors included greenery, nearby parks, noise, recreational facilities, access to shopping centers, transportation facilities, distance to work, road conditions, distance to the street, and site conditions. The purpose of the project is to identify and compare the set of external factors have an impact on property values and rents. A number of earlier studies examined the role of individual external factors on housing prices. Hughes and Sirmans (1992, 1993) looked at the impact of different traffic levels within a neighborhood and compared the negative effects of excessive traffic (smoke, noise, danger, dust) with the positive effects of better access. Their study, based on 288 MLS residential sales within the Baton Rouge, Lousiana, metropolitian area, suggests a downward adjustment in the price of 11.49% for high traffic. The study by Li and Brown (1980) included data on air pollution, visual quality, noise and proximity to the ocean, rivers, recreational areas, schools, expressway interch789===== PAGE 1 (score 2, numeric-paren 0, table-words 0, var-words 2) =====1011econstor12Make Your Publications Visible.13A Service of14zbw15Leibniz-Informationszentrum16Wirtschaft17Leibniz Information Centre18for Economics19Dökmeci, Vedia; Yavas, Abdullah20Conference Paper21External Factors, Housing Values And Rents:22Evidence From Survey Data2340th Congress of the European Regional Science Association: "European Monetary Union24and Regional Policy", August 29 - September 1, 2000, Barcelona, Spain25Provided in Cooperation with:26European Regional Science Association (ERSA)27Suggested Citation: Dökmeci, Vedia; Yavas, Abdullah (2000) : External Factors, Housing28Values And Rents: Evidence From Survey Data, 40th Congress of the European Regional29Science Association: "European Monetary Union and Regional Policy", August 29 - September301, 2000, Barcelona, Spain, European Regional Science Association (ERSA), Louvain-la-Neuve31This Version is available at:32http://hdl.handle.net/10419/11478033Standard-Nutzungsbedingungen:34Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen35Zwecken und zum Privatgebrauch gespeichert und kopiert werden.36Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle37Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich38machen, vertreiben oder anderweitig nutzen.39Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen40(insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten,41gelten abweichend von diesen Nutzungsbedingungen die in der dort42genannten Lizenz gewährten Nutzungsrechte.43Terms of use:44Documents in EconStor may be saved and copied for your45personal and scholarly purposes.46You are not to copy documents for public or commercial47purposes, to exhibit the documents publicly, to make them48publicly available on the internet, or to distribute or otherwise49use the documents in public.50If the documents have been made available under an Open51Content Licence (especially Creative Commons Licences), you52may exercise further usage rights as specified in the indicated53licence.54www.econstor.eu555657===== PAGE 21 (score 27, numeric-paren 0, table-words 2, var-words 19) =====5859 60 611762Table 1: Summary Statistics 63 64VARIABLE 65MEAN STD. DEV. 66 MIN. 67 MAX. 68 69 70 LABEL 71 72VAR1-A 73 74147.77 75 228.35 76 20,000.0 771,000,000.0 PRICE YOU WOULD ASK (000 TL) 78VAR1-B 79 80 77.88 81 8285.95 83100.0 84 855000.0 86RENT YOU WOULD CHARGE (000 TL) 87VAR2 88 89 ..... 90 91..... 92 1.0 9319.0DISTRICTS 94VAR3 95 96 1.05 97 98.93 99 1.0 100 3.0ROAD CONDITIONS 101VAR4 102 103 1.91 104 105.69 106 1.0 1075.0ROAD COVER 108VAR5 109 110 2.20 111 112.72 113 1.0 1145.0TYPE OF HOUSING (CONDO, SINGLE-FAMILY,..) 115VAR6 116 117 4.79 118 1192.20 120 .0 1218.0HOW LONG HAVE YOU LIVED IN THIS HOUSE 122VAR7 123 124 90.63 125 12667.88 12730.0 128 129550.0 130SURFACE AREA ( M2) 131VAR8 132 133 2.45 134 135.89 136 1.0 13710.0NUMBER OF ROOMS 138VAR9 139 140 .89 141 142.92 143 .0 1445.0NUMBER OF BALCONY 145VAR10 146 147 4.43 148 1492.03 150 1.0 15120.0# OF PEOPLE IN THIS HOUSE 152VAR11 153 154 1.95 155 1561.38 157 1.0 1585.0OWNERSHIP 159VAR12 160 161 .91 162 163.92 164 .0 1656.0HOW MANY HOUSES DO YOU OWN 166VAR13 167 168 .85 169 170.72 171 .0 1724.0LOCATION OF HOMES 173 174 175 176 177 178 179 180SATISFACTION LEVEL 181VAR14 182 183 2.13 184 185.72 186 1.0 1874.0W/ DISTRICT 188VAR15 189 190 2.20 191 192.75 193 1.0 1944.0W/ TRANSPORTATION 195VAR16 196 197 2.11 198 199.89 200 1.0 2014.0W/ DISTANCE TO WORKPLACE 202VAR17 203 204 2.28 205 206.75 207 1.0 2084.0W/ HOUSING SIZE 209VAR18 210 211 2.26 212 213.81 214 1.0 2154.0W/ NUMBER OF ROOMS, LIVING 216VAR19 217 218 1.92 219 2201.14 221 1.0 2224.0 W/ BALCONY AND TERRACE 223VAR20 224 225 2.38 226 227.82 228 1.0 2294.0W/ QUALITY OF CONSTRUCTION 230VAR21 231 232 2.49 233 234.92 235 1.0 2364.0W/ SITE IMPROVEMENTS 237VAR22 238 239 2.78 240 241.97 242 1.0 2434.0W/ GREEN AREAS 244VAR23 245 246 2.84 247 248.97 249 1.0 2504.0W/ NEARBY RECREATIONAL FACILITIES 251VAR24 252 253 2.33 254 255.79 256 1.0 2574.0W/ DRINKING WATER 258VAR25 259 260 2.16 261 262.76 263 1.0 2644.0W/ SEWAGE SYSTEM 265VAR26 266 267 2.03 268 2691.01 270 1.0 2714.0W/ CONDITION OF THE ROOF 272VAR27 273 274 2.13 275 276.84 277 1.0 2784.0W/ NEARBY NOISE 279VAR28 280 281 1.96 282 283.72 284 1.0 2854.0W/ NEIGHBORHOOD RELATIONS 286VAR29 287 288 2.51 289 290.91 291 1.0 2924.0W/ VIEW 293VAR30 294 295 2.13 296 297.82 298 1.0 299 4.0W/ DISTANCE TO STREET 300VAR31 301 302 2.08 303 304.77 305 1.0 306 4.0W/ SHOPPING FACILITIES 307VAR32 308 309 2.27 310 311.53 312 1.0 3134.0OVERALL LEVEL OF SATISFACTION 314VAR33 315 316 1.76 317 3181.21 319 1.0 3204.0LEGAL STATUS (TITLE, PERMIT, ..) 321VAR34 322 323 2.73 324 325.50 326 1.0 327 4.0TYPE OF CONSTRUCTION 328VAR35 329 330 2.00 331 332.81 333 1.0 3343.0AGE OF THE BUILDING (<10, 11-20, >20) 335VAR36 336 337 2.93 338 3391.22 340 1.0 341 4.0WHO BUILT THE PROPERTY? 342VAR37 343 344 2.63 345 346.81 347 1.0 3484.0TYPE OF HEATING 349VAR38 350 351 2.81 352 3531.14 354 1.0 3555.0WC AND BATH 356 357 358 359 360 361 362 363EQUIPMENT IN THE BATHROOM 364VAR39 365 366 .43 367 368.50 369 .0 370 1.0CLOSET 371VAR40 372 373 .38 374 375.56 376 .0 3771.0BATH TAB 378VAR41 379 380 .15 381 382.36 383 .0 384 1.0SHOWER 385VAR42 386 387 .07 388 389.38 390 .0 3911.0SHOWER CABIN 392VAR43 393 394 .14 395 396.35 397 .0 398 1.0THERMOSIFON 399VAR44 400 401 .50 402 403.50 404 .0 405 1.0CHAUFBAIN 406VAR45 407 408 .45 409 410.50 411 .0 4121.0WASHING MACHINE 413VAR46 414 415 .40 416 417.49 418 .0 419 1.0AUTOMATIC WASHING MACHINE 420VAR47 421 422 .03 423 424.16 425 .0 4261.0DRYER 427VAR48 428 429 .35 430 431.48 432 .0 4331.0WC STYLE (WESTERN) 434VAR49 435 436 .75 437 438.44 439 .0 4401.0WC STYLE (TURKISH) 441VAR50 442 443 .58 444 445.49 446 .0 4471.0WASH BASIN IN THE BATHROOM 448VAR51 449 450 1.01 451 452.24 453 .0 4541.0SEPARATE KITCHEN 455 456 457 458 459 460 461 462EQUIPMENT IN THE KITCHEN 463VAR52 464 465 .94 466 467.25 468 .0 4691.0KITCHEN TABLE 470VAR53 471 472 .82 473 474.38 475 .0 4761.0WASH BASIN 477VAR54 478 479 .86 480 481.35 482 .0 4831.0RUNNING WATER 484VAR55 485 486 .85 487 488.36 489 .0 4901.0SEWAGE 491VAR56 492 493 .68 494 495.47 496 .0 4971.0STOVE 498VAR57 499 500 .71 501 502.45 503 .0 5041.0 OVEN 505VAR58 506 507 .93 508 509.25 510 .0 5111.0REFRIGERATOR 512513514===== PAGE 22 (score 20, numeric-paren 0, table-words 0, var-words 17) =====515516 517 51818519VAR59 520 521 .14 522 523.35 524 .0 5251.0DISH WASHER 526VAR60 527 528 .01 529 530.10 531 .0 5321.0GARBAGE DISPOSER 533 534 535 536 537 538 539 540DO YOU HAVE THE FOLLOWING? 541VAR61 542 543 .01 544 545.12 546 .0 5471.0CLOSED GARAGE 548VAR62 549 550 .12 551 552.33 553 .0 5541.0OPEN GARAGE 555VAR63 556 557 .04 558 559.20 560 .0 5611.0SATELLITE RECEIVER 562VAR64 563 564 .00 565 566.03 567 .0 5681.0SWIMMING POOL 569VAR65 570 571 .03 572 573.17 574 .0 5751.0FIRE STAIRS 576VAR66 577 578 .11 579 580.38 581 .0 5821.0ELEVATOR 583VAR67 584 585 .12 586 587.33 588 .0 5891.0HOT WATER 590VAR68 591 592 1.29 593 594.45 595 .0 5961.0DO YOU WANT A NEW HOME? 597VAR69 598 599 5.78 600 6017.50 602 1.0 60319.0WHICH DISTRICT WOULD YOU WANT TO MOVE 604VAR70 605 606 2.75 607 6083.72 609 .0 61018.0WHICH DISTRICT WOULD YOU...-REASON 1 611VAR71 612 613 .79 614 6152.48 616 .0 61718.0WHICH DISTRICT WOULD YOU...-REASON 2 618VAR72 619 620 .13 621 6221.08 623 .0 62418.0WHICH DISTRICT WOULD YOU...-REASON 3 625VAR73 626 627 .68 628 629.80 630 1.0 6315.0WHY DO YOU WANT A NEW HOME? 632 633 634 635 636 637 638 639WHAT WOULD YOU CHANGE ABOUT HOUSE 640VAR74 641 642 .19 643 644.39 645 .0 6461.0TRANSPORTATION 647VAR75 648 649 .17 650 651.38 652 .0 6531.0DISTANCE TO YOUR JOB 654VAR76 655 656 .30 657 658.46 659 .0 6601.0 SIZE 661VAR77 662 663 .29 664 665.45 666 .0 6671.0NUMBER OF ROOMS AND BATH 668VAR78 669 670 .25 671 672.43 673 .0 6741.0BALCONIES 675VAR79 676 677 .31 678 679.46 680 .0 6811.0QUALITY OF THE CONSTRUCTION 682VAR80 683 684 .38 685 686.48 687 .0 6881.0SITE IMPROVEMENTS 689VAR81 690 691 .44 692 693.50 694 .0 6951.0GREEN AREAS 696VAR82 697 698 .45 699 700.50 701 .0 7021.0RECREATIONAL FACILITIES 703VAR83 704 705 .23 706 707.42 708 .0 7091.0WATER 710VAR84 711 712 .16 713 714.36 715 .0 7161.0SANITARY SYSTEM 717VAR85 718 719 .17 720 721.38 722 .0 7231.0 ROOF 724VAR86 725 726 .20 727 728.40 729 .0 7301.0 NOISE 731VAR87 732 733 .10 734 735.31 736 .0 7371.0NEIGHBORHOOD RELATIONSHIPS 738VAR88 739 740 .38 741 742.49 743 .0 7441.0 VIEW 745VAR89 746 747 .15 748 749.36 750 .0 7511.0DISTANCE TO THE STREET 752VAR90 753 754 .16 755 756.37 757 .0 7581.0SHOPPING FACILITIES 759VAR91 760 761 1.93 762 763.49 764 1.0 7654.0HOW WOULD YOU FINANCE A NEW HOUSE 766VAR92 767 768 .64 769 7701.20 771 1.0 77214.0REASONS FOR NOT OWNING A HOUSE 1 773VAR93 774 775 .03 776 777.50 778 1.0 77914.0REASONS FOR NOT OWNING A HOUSE 2 780VAR94 781 782 .00 783 784.06 785 1.0 78614.0REASONS FOR NOT OWNING A HOUSE 3 787 788 789 790 791 792 793 794WHICH OF THE FOLLOWING DO YOU OWN? 795VAR95 796 797 .89 798 799.32 800 .0 8011.0 COLOR TV 802VAR96 803 804 .31 805 806.46 807 .0 8081.0 VCR 809VAR97 810 811 .09 812 813.29 814 .0 8151.0CD PLAYER 816VAR98 817 818 .05 819 820.21 821 .0 8221.0 823PC 824VAR99 825 826 .65 827 828.48 829 .0 8301.0TELEPHONE 831VAR100 832 833 .02 834 835.13 836 .0 8371.0PAGER 838VAR101 839 840 .29 841 842.55 843 .0 8441.0 CAR 845VAR102 846 847 45.28 848 84913.99 85018.0 851 85287.0 853AGE OF THE HOUSEHOLD HEAD 854VAR103 855 856 20.73 857 85812.54 859 1.0 86067.0YEARS YOU HAVE BEEN MARRIED 861VAR104 862 863 2.40 864 8651.80 866 1.0 86710.0EDUCATION OF THE HEAD 868VAR105 869 870 1.50 871 8721.64 873 1.0 87410.0EDUCATION OF THE SPOUSE 875VAR106 876 877 1.57 878 8791.84 880 1.0 88110.0EDUCATION OF THE 1. CHILD 882VAR107 883 884 1.20 885 8863.34 887 1.0 88810.0EDUCATION OF THE 2. CHILD 889VAR108 890 891 .88 892 8935.24 894 1.0 89510.0EDUCATION OF THE 3. CHILD 896VAR109 897 898 .51 899 9006.60 901 1.0 90210.0EDUCATION OF THE 4. CHILD 903VAR110 904 905 .45 906 9076.59 908 1.0 909 10.0EDUCATION OF THE 5. CHILD 910VAR111 911 912 .44 913 9146.59 915 1.0 91610.0EDUCATION OF THE 6. CHILD 917VAR112 918 919 6.76 920 921 3.46 922 1.0 92312.0OCCUPATION OF THE HEAD 924VAR113 925 926 1.44 927 9281.84 929 1.0 93012.0OCCUPATION OF THE SPOUSE 931VAR114 932 933 3.05 934 9353.59 936 1.0 93712.0OCCUPATION OF THE 1. CHILD 938VAR115 939 940 2.17 941 9424.25 943 1.0 944 12.0OCCUP ATION OF THE 2. CHILD 945VAR116 946 947 1.48 948 949 5.67 950 1.0 95112.0OCCUPATION OF THE 3. CHILD 952VAR117 953 954 .63 955 9566.68 957 1.0 95812.0OCCUPATION OF THE 4.CHILD 959VAR118 960 961 .48 962 9636.61 964 1.0 96512.0OCCUPATION OF THE 5. CHILD 966VAR119 967 968 .45 969 9706.59 971 1.0 97212.0OCCUPATION OF THE 6. CHILD 973VAR120 974 975 1.66 976 977.88 978 1.0 979 6.0TOTAL HOUSEHOLD INCOME 980981982===== PAGE 23 (score 23, numeric-paren 0, table-words 3, var-words 8) =====983984 985 98619987Table 2: DEPENDENT VARIABLE = VALUE 988 989F Value 990 991 9.117 992Prob.>F 993 9940.0001 995R-square 996 9970.263 998Adj R-sq 999 10000.235 1001N 1002 1003 1004795 1005 1006 1007 1008 1009 1010 1011Parameter Standard 1012 1013Variable 1014 1015 1016 1017 1018Estimate 1019Error 1020 1021Prob > |T| 1022INTERCEPT 1023 1024 1025 1026 1027 1028853.80 1029168.89 1030 10310.0001 1032ASIA 1033 1034 1035 1036 1037 103828.70 103934.95 1040 10410.4118 1042FATIH * 1043 1044 1045 1046 1047 104820.21 104937.15 1050 10510.5866 1052G.O.PASA* 1053 1054 1055 1056 1057 1058 -2.70 105931.61 1060 10610.9319 1062KADIKOY* 1063 1064 1065 1066 1067 1068-37.98 1069 107046.52 1071 10720.4146 1073KAGITHANE* 1074 1075 1076 1077 1078 1079103.60 108039.12 1081 10820.0083 1083KARTAL* 1084 1085 1086 1087 1088 1089-65.87 1090 109146.19 1092 10930.1543 1094PENDIK * 1095 1096 1097 1098 1099 1100-119.54 110166.75 1102 11030.0737 1104SARIYER* 1105 1106 1107 1108 1109 1110256.40 111156.79 1112 11130.0001 1114SISLI* 1115 1116 1117 1118 1119 112059.71 112138.11 1122 11230.1176 1124USKUDAR* 1125 1126 1127 1128 1129 113020.86 113139.08 1132 11330.5936 1134APARTMENT 1135 1136 1137 1138 1139 1140-31.73 1141 114223.84 1143 11440.1836 1145SINGLE FAMILY HOME 1146 1147 114840.99 114935.88 1150 11510.2536 1152LIVING AREA (m2) 1153 1154 1155 11561.88 11570.28 1158 1159 11600.0001 1161GARAGE 1162 1163 1164 1165 1166 1167112.63 116827.50 1169 11700.0001 1171TITLE & CONST. PERMIT 1172 117338.83 1174 117519.73 1176 11770.0494 1178BUILT BY A BUILDER 1179 1180 1181 118228.90 118320.47 1184 11850.1585 1186TENANT 1187 1188 1189 1190 1191 119216.20 119317.18 1194 11950.3458 1196FAMILY INCOME < 3M** 1197 1198 1199-942.80 1200161.46 1201 12020.0001 1203FAMILY INCOME ? [3M,5M] 1204 1205 1206-937.50 1207160.96 1208 12090.0001 1210FAMILY INCOME ? [5M,9M] 1211 1212 1213-839.67 1214162.29 1215 12160.0001 1217FAMILY INCOME ? [9M,14M] 1218 1219 1220-904.74 1221165.56 1222 12230.0001 1224FAMILY INCOME ? [15M,20M] 1225 1226 1227-896.64 1228170.70 1229 12300.0001 1231GREEN AREA/VERY HAPPY 1232 1233 1234237.47 123555.74 1236 12370.0001 1238RECREATIONAL FACILITIES/VERY HAPPY 1239-108.77 124079.89 1241 12420.1738 1243NOISE IN THE BUILDING/UNHAPPY 1244 1245-24.77 1246 124718.54 1248 12490.1820 1250NEIGHBOR. RELATIONS/HAPPY 1251 1252 125321.86 125422.82 1255 12560.3384 1257NEIGHBOR. RELATIONS/UNHAPPY 1258 125950.00 126029.74 1261 12620.0931 1263VIEW/VERY HAPPY 1264 1265 1266 1267 1268-59.09 1269 127044.96 1271 12720.1892 1273VIEW/UNHAPPY 1274 1275 1276 1277 1278 1279 -27.92 128016.99 1281 12820.1007 1283SHOPPING FACILITIES/HAPPY 1284 1285 128623.37 128718.12 1288 12890.1976 1290 129112921293===== PAGE 24 (score 1, numeric-paren 0, table-words 0, var-words 1) =====12941295 1296 1297201298* A district of Istanbul 1299** Income in millions of Turkish Lira (the exchange rate at the time was $1? 6950 Turkish Liras) 130013011302===== PAGE 25 (score 23, numeric-paren 0, table-words 3, var-words 7) =====13031304 1305 1306211307Table 3: DEPENDENT VARIABLE = RENT 1308 1309F Value 1310 1311 17.897 1312Prob.>F 1313 13140.0001 1315R-square 1316 13170.4443 1318Adj R-sq 1319 13200.4195 1321N 1322 1323 1324795 1325 1326 1327 1328 1329 1330 1331 1332Parameter 1333Standard 1334 1335Variable 1336 1337 1338 1339 1340 1341Estimate 1342Error 1343Prob > |T| 1344INTERCEPT 1345 1346 1347 1348 1349 1350-217.11 135155.98 13520.0001 1353ASIA 1354 1355 1356 1357 1358 1359-5.52 13608.82 1361 13620.53 1363BAKIRKOY* 1364 1365 1366 1367 1368 136914.19 13708.26 1371 13720.08 1373BESIKTAS* 1374 1375 1376 1377 1378 137998.32 138015.08 13810.0001 1382BEYKOZ* 1383 1384 1385 1386 1387 138883.53 138941.47 13900.044 1391FATIH* 1392 1393 1394 1395 1396 139730.07 139812.77 13990.018 1400KAGITHANE* 1401 1402 1403 1404 1405 140636.97 140712.67 14080.0036 1409KARTAL* 1410 1411 1412 1413 1414 1415-9.49 141612.75 14170.457 1418PENDIK * 1419 1420 1421 1422 1423 142443.71 142519.62 14260.0262 1427SARIYER* 1428 1429 1430 1431 1432 143324.40 143418.07 14350.1774 1436SISLI* 1437 1438 1439 1440 1441 144248.91 144312.53 14440.0001 1445USKUDAR* 1446 1447 1448 1449 1450 145126.33 145211.03 14530.0173 1454LIVING AREA - M2 1455 1456 1457 14580.52 14590.091 14600.0001 1461GARAGE 1462 1463 1464 1465 1466 146757.45 14688.66 1469 14700.0001 1471TITLE & CONST. PERMIT 1472 147320.43 1474 14756.20 1476 14770.001 1478BUILT BY A COOPERATIVE 1479 1480 148159.59 148211.44 14830.0001 1484BUILT BY A BUILDER 1485 1486 1487 148823.38 14896.16 1490 14910.0002 1492OWNER 1493 1494 1495 1496 1497 149812.76 14995.51 1500 15010.0209 1502TENANT - RENT FREE 1503 1504 1505 150613.38 150712.25 15080.2749 1509FAMILY INCOME < 3M** 1510 1511 1512156.20 151352.03 15140.0028 1515FAMILY INCOME ? [3M,5M] 1516 1517 1518164.82 151951.81 15200.0015 1521FAMILY INCOME ? [5M,9M] 1522 1523 1524196.45 152552.13 15260.0002 1527FAMILY INCOME ? [9M,14M] 1528 1529 1530241.57 153153.37 15320.0001 1533FAMILY INCOME ? [15M,20M] 1534 1535 1536233.21 153754.71 15380.0001 1539TRANSPORTATION/VERY HAPPY 1540 1541 154261.96 154315.43 15440.0001 1545TRANSPORTATION/HAPPY 1546 1547 154818.88 154911.76 15500.109 1551TRANSPORTATION/UNHAPPY 1552 1553 155415.33 155512.30 15560.2131 1557GREEN AREA/VERY HAPPY 1558 1559 156086.04 156118.05 15620.0001 1563RECREATIONAL FACILITIES/VERY HAPPY 1564-34.58 1565 156625.87 15670.1817 1568RECREATIONAL FACILITIES/UNHAPPY 1569-10.83 15705.63 1571 15720.0547 1573NEIGHBOR. RELATIONS/UNHAPPY 1574 157512.49 15767.44 1577 15780.0937 1579VIEW/VERY HAPPY 1580 1581 1582 1583 1584-38.34 1585 158614.35 15870.0077 1588VIEW/UNHAPPY 1589 1590 1591 1592 1593 15946.75 15955.40 1596 15970.2115 1598SHOPPING FACILITIES/HAPPY 1599 1600 160114.88 16028.92 1603 16040.0958 1605SHOPPING FACILITIES/UNHAPPY 1606 1607 160812.20 160910.41 16100.2415 161116121613===== PAGE 26 (score 1, numeric-paren 0, table-words 0, var-words 1) =====16141615 1616 1617221618 1619* A district of Istanbul 1620** Income in millions of Turkish Lira (the exchange rate at the time was $1? 6950 Turkish Liras) 1621