PENGARUH STATUS CAGAR BUDAYA TERHADAP NILAI PROPERTI RUMAH TINGGAL DI KOTA BANDUNG (STUDI KASUS: KAWASAN CAGAR BUDAYA GEDUNG SATE)

• Main Author: Aunurrahim, Harashtina
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/44194
• Institution: Institut Teknologi Bandung

Historic designation is one of the way to preserve cultural heritage. Previous studies show historic designation can increase property values because it raises the premium value and there are subsidy instrument whis is considered profitable. However, some other studies show the opposite result, which is a descrease in property value due to restriction on managing the property. In the Bandung City, histric designation is applied to protect cultural heritage. There are two historic designation status related to property: Historic Building (BCB) and Historic Area (KCB).The phenomenon of impact of historic designation on property value might happen in the Bandung City, but studies on this matter do not exist yet. Therefore this study aims to reveal the impact of the historic designation on property values in the Bandung City through a case study at Gedung Sate Historic Area. This study uses hedonic price method with regression analysis technique. The effect of historic designation on property values is expressed by making the BCB and KCB one of the variables tested in relation to property values (explained through the property offering price). In addition to the historic designation status variable, another variable is needed because there are other property characteristics that affect the property offering price which is obtained from a literature review. Property data regarding candidate variables and property offering prices are obtained from web scraping on rumah.com and 99.co.id and also through spatial data management using ArcGIS. Based on the formed regression model, the BCB and KCB variables are not significant to the property offering price, so it can be concluded that the historic designation does not affect property values in the study area.