Urban clusters and land price variation in Jakarta, Indonesia

Penulis: Gamal, AhmadKhoirunisa, RistyMuhtadi, Iman
Informasi
JurnalJournal of Property Research
PenerbitRoutledge
Volume & EdisiVol. 41,Edisi 1
Halaman71 - 93
Tahun Publikasi2024
ISSN09599916
Jenis SumberScopus
Sitasi
Scopus: 3
Google Scholar: 3
PubMed: 3
Abstrak
Jakarta’s dynamism is impacted profoundly by the growing economic activity of urban agglomeration. The high intensity of urban economic activities has transformed the capital’s spatial configuration with the emergence of concentrated commercial areas, so-called urban clusters. The agglomeration stimulated an increased demand for commercial property, raising the need for land parcels. Theoretically, various determinant attributes influence land value; one of them is the location aspect. Location was often measured using the distance calculation method despite the questionable accuracy of the current city spatial structure. This research analyzes a new location attribute by considering spatial design and configuration, specifically from the arrangement of the surrounding environments. This study quantifies the degree of clusterization of an area and finds its relation to land value. We found that spatial clusterization positively correlates to the land value by 0.172%, and clusterization creates real estate advantages by adding more value to the properties within the cluster. © 2023 Informa UK Limited, trading as Taylor & Francis Group.
Dokumen & Tautan

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