The Influence of Housing Attributes on Housing Price in East Surabaya

摘要

The emerging middle class in Indonesia at the moment have some potentials to be the largest consumers in housing sector which is middle class housing. The phenomenon happens in East Surabaya, even further after the opening access of Middle East Ring Road (MERR). Before buying a house, households make a bid based on their valuation of the housing attributes: physical attributes and neighborhood characteristics. However, developers usually cannot make exact calculation about the influences of those attributes on the housing price; causes the offered housing price is not optimal. The objective of this research is to identify the influence of housing attributes toward middle class housing price in East Surabaya. The respondents are society who bought middle class house in the period of 2011-2015. The data were collected by doing structured interviews with 100 respondents. This research uses multiple regression method in data processing. This research found that seven house attributes simultaneously influence significantly the housing price. The most significant housing attribute in affecting the housing price is the number of bedroom. This research is useful for housing developers, as it shows the influence of housing attributes towards housing price on consumers' perspective. In addition, hopefully, this research will be able to help the developers in calculating the middle housing price based on housing characteristics by consumers' perspective