A Hybrid Property Pricing Model: The Case of Apartment Residents in Jakarta Indonesia

Eris Sudariswan, Ernie Tisnawati Sule, Sucherly, Sulaeman Rahman
European Research Studies Journal, Volume XXIII, Issue 1, 94-106, 2020
EOI: 10.11214/thalassinos.23.01.008
DOI: 10.35808/ersj/1538

Abstract:

Purpose: This research initiates a property pricing model that involves various perspectives and consumer considerations in selecting properties, including aspects of sales comparison, investment, hedonic life style, brand equity, and digital life style. Design/Methodology/Approach: The study investigates 222 residents of middle class apartments in Jabotadebek (Great Jakarta). The study employs Structural Equation Modelling (SEM) to test the research hypotheses. Findings: The research found that the price of apartments in the region is strongly influenced by a combination of multi aspects of sales comparison, investment, hedonic life style, brand equity, and digital life style. Practical Implications: The research has implications for investment shows the weakest contribution to the apartment price. Originality/Value: This study found that the price of apartments in the region is strongly influenced by a combination of multi aspects of sales comparison, investment, hedonic life style, brand equity, and digital life style.


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