Connection between Residential Product Price and Preferences: A study in Jakarta Metropolitan Region
Article Sidebar
Main Article Content
Abstract
As part of an ongoing research about value determinant factors for residential product pricing in Jakarta Metropolitan Region, this paper will analyze reasoning behind price allocation for residential products. It will also try to produce a certain pricing approach to measure the level of residential product price uniqueness. Preliminary findings from literature review analysis suggested that planned community (gated) concept, security and prestige helps to determine consumer preferences to purchase a specific residential product, while from interview analysis with property developer suggested additional factors of design, accessibility, facilities and brand also influenced the price of the product.
Article Details
License
Copyright (c) 2018 R. Aswin Rahadi, Sudarso Kaderi Wiryono, Deddy P. Koesrindartoto, Indra Budiman Syamwil
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
References
Blakely, E. J., & Snyder, M. G. (1998). Fortress America: gated communities in the United States. Washington, D.C.: Brookings Institution Press.
Daly, J., Gronow, S., Jenkins, D., & Plimmer, F. (2003). Consumer behavior in the valuation of residential property: A comparative study in the UK, Ireland and Australia. Journal of Property Management , 295-314.
Davison, N., Goodier, C., Gibb, A., Austin, S., Saker, J., & Gregory, C. (2009). Factors Influencing the Market for Branded Mass Costumized Buildings. Loughborough University , 1-10.
Eves, C. (2007). Planned residential community developments: do they add value?, Journal of Property Management , 164-179.
Hoshino, T. (2008). Estimation and Analysis of Preference Heterogeneity in Residential Choice Behavior. Department of Geography and Environment, London School of Economics , 1-29.
Hough, D. E., & Kratz, C. G. (1983). Can ‘good’ architecture meet the market test?, Journal of Urban Economics , 56-67.
Malpezzi, S., Wachter, S. M. (2004), The Role of Speculation in Real Estate Cycles. Zell/Lurie Center Working
Papers 401, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
Pornchokchai, P. (2011). Real Estate Cycles: What Can We Learn?. 17th AVA Pre-congress, Thailand 9 July 20-22, 2011, Siem Reap, Cambodia.
Reed, R., Wu, H., (2010), Understanding property cycles in a residential market, Property Management, Vol. 28 Issue: 1, 33 – 46.
Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition. The Journal of Political Economy , 34-55.
Rossini, P. (1997). Application of Artificial Neural Networks to the Valuation of Residential Property. Third Annual Pacific-Rim Real Estate Society Conference , 1-9.
Simanungkalit, P. (2009). Property Investment Strategy in the Global Crisis. Tjiptono Darmadji Network, Investment in Property Seminar, April 14, 2009, Le Meridien Hotel, Jakarta.
Smith, B. C. (2004). Economic Depreciation of Residential Real Estate: Microlevel Space and Time Analysis. Journal of Real Estate Economics , 161-180.
Wough, F. (1928). Quality factors influencing vegetable prices. Journal of Farm Economics , 1-18.
Yusof, A. (2001). Economy and Commercial Construction Cycle in Malaysia, PRRES Conference 2001, January 21-24, 2001. Adelaide, the Pacific Rim Real Estate Society (PRRES).