18 Using Clustering of Panel Data to Examine Housing Demand …
191
Table 18.4 Cluster validity index values for non-resident data sets in the demand for housing in
Turkey
Number of clusters
2
3
4
5
6
7
Cindex
0.0198
0.0224
0.0136
0.0140
0.0111
0.0154
Dunn
0.7467
0.3820
0.4915
0.3914
0.2132
0.6394
Gamma
0.8674
0.8484
0.8666
0.8831
0.9348
0.9289
Gplus
0.0298
0.0349
0.0209
0.0163
0.0093
0.0102
McClain
0.2517
0.2352
0.2102
0.2083
0.1808
0.1380
Ptbiserial
0.7640
0.5144
0.4748
0.4057
0.3336
0.3312
Silhouette
0.7733
0.6529
0.6529
0.5859
0.4877
0.5407
Tau
0.5965
0.5829
0.5788
0.3775
0.4480
0.3823
Table 18.5 Cluster validity index value for foreign countries in the demand for housing data sets
from Turkey
Number
of clusters
2
3
4
5
6
7
8
9
10
Cindex
0.0658 0.0182 0.0121 0.0085 0.0070 0.0059 0.0056 0.0037 0.0070
Dunn
0.0921 0.1698 0.1259 0.1474 0.1995 0.3361 0.2151 0.3495 0.2776
Gamma
0.8012 0.9445 0.9232 0.94784 0.9254 0.94781 0.9127 0.9333 0.9113
Gplus
0.0501 0.0122 0.0143 0.0130 0.0095 0.0097 0.0044 0.0041 0.0050
McClain 0.2668 0.1510 0.1291 0.1155 0.0991 0.0836 0.0840 0.0843 0.0686
Ptbiserial 0.6200 0.6026 0.5235 0.4782 0.4236 0.3740 0.3522 0.2992 0.3375
Silhouette 0.7064 0.7707 0.7471 0.6934 0.6793 0.6043 0.6441 0.6491 0.5725
Tau
0.5714 0.6301 0.5656 0.5035 0.4882 0.4508 0.4168 0.3919 0.3936
2nd Cluster: Trabzon.
3rd Cluster: Aydin, Bursa, Other Provinces, Mugla, Yalova.
4th Cluster: Ankara.
5th Cluster: Izmir.
6th Cluster: Sakarya.
as obtained. Comment of Clustering for External Residents;
Antalya is one of Turkey’s major cities for tourism. Due to its comfortable living
conditions, cultural and historical richness, nature and climate, it attracts the attention
of investors from abroad and within the country. Antalya is one of the most immigration receiving provinces and its economy depends on tourism. However, expatriates
invested their years of accumulation into residences in their respective cities. Now,
implementation of attractive mortgage conditions in Turkey, which are widespread
abroad, has caused the Turks to move to Istanbul.
TurkStat’s research reveals that Turks living abroad invest in closed sites in
Istanbul. Expatriates highlight Antalya and Istanbul in terms of housing investment,
191
Table 18.4 Cluster validity index values for non-resident data sets in the demand for housing in
Turkey
Number of clusters
2
3
4
5
6
7
Cindex
0.0198
0.0224
0.0136
0.0140
0.0111
0.0154
Dunn
0.7467
0.3820
0.4915
0.3914
0.2132
0.6394
Gamma
0.8674
0.8484
0.8666
0.8831
0.9348
0.9289
Gplus
0.0298
0.0349
0.0209
0.0163
0.0093
0.0102
McClain
0.2517
0.2352
0.2102
0.2083
0.1808
0.1380
Ptbiserial
0.7640
0.5144
0.4748
0.4057
0.3336
0.3312
Silhouette
0.7733
0.6529
0.6529
0.5859
0.4877
0.5407
Tau
0.5965
0.5829
0.5788
0.3775
0.4480
0.3823
Table 18.5 Cluster validity index value for foreign countries in the demand for housing data sets
from Turkey
Number
of clusters
2
3
4
5
6
7
8
9
10
Cindex
0.0658 0.0182 0.0121 0.0085 0.0070 0.0059 0.0056 0.0037 0.0070
Dunn
0.0921 0.1698 0.1259 0.1474 0.1995 0.3361 0.2151 0.3495 0.2776
Gamma
0.8012 0.9445 0.9232 0.94784 0.9254 0.94781 0.9127 0.9333 0.9113
Gplus
0.0501 0.0122 0.0143 0.0130 0.0095 0.0097 0.0044 0.0041 0.0050
McClain 0.2668 0.1510 0.1291 0.1155 0.0991 0.0836 0.0840 0.0843 0.0686
Ptbiserial 0.6200 0.6026 0.5235 0.4782 0.4236 0.3740 0.3522 0.2992 0.3375
Silhouette 0.7064 0.7707 0.7471 0.6934 0.6793 0.6043 0.6441 0.6491 0.5725
Tau
0.5714 0.6301 0.5656 0.5035 0.4882 0.4508 0.4168 0.3919 0.3936
2nd Cluster: Trabzon.
3rd Cluster: Aydin, Bursa, Other Provinces, Mugla, Yalova.
4th Cluster: Ankara.
5th Cluster: Izmir.
6th Cluster: Sakarya.
as obtained. Comment of Clustering for External Residents;
Antalya is one of Turkey’s major cities for tourism. Due to its comfortable living
conditions, cultural and historical richness, nature and climate, it attracts the attention
of investors from abroad and within the country. Antalya is one of the most immigration receiving provinces and its economy depends on tourism. However, expatriates
invested their years of accumulation into residences in their respective cities. Now,
implementation of attractive mortgage conditions in Turkey, which are widespread
abroad, has caused the Turks to move to Istanbul.
TurkStat’s research reveals that Turks living abroad invest in closed sites in
Istanbul. Expatriates highlight Antalya and Istanbul in terms of housing investment,