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

Eris Sudariswan, Ernie Tisnawati Sule, Sucherly and Sulaeman Rahman

European Research Studies Journal, 2020, vol. XXIII, issue 1, 94-106

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.

Keywords: Property pricing model; Structural Equation Modelling (SEM); brand equity. (search for similar items in EconPapers)
JEL-codes: M14 M41 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxiii:y:2020:i:1:p:94-106

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