ANALYSIS ON THE RESIDENTIAL HOUSING AFFORDABILITY IN GREATER JAKARTA USING THE LIFE CYCLE APPROACH

• Main Author: Bonauli, Christopher
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/56026
• Institution: Institut Teknologi Bandung

The land scarcity in Greater Jakarta has aggravated the issues that have affected the housing industry, demanding solutions. The increase in income of households living in Jakarta has not been followed by the increase in home ownership, which is one of the human’s basic need. The current option of vertical housings has not been able to fulfil the dream of Jakarta citizens that aspire to own a landed house, which has already become a defining culture for Jakarta people. This thesis aims to analyze the affordability trend in the residential property industry for the last ten years using the lifetime cycle method, including the effect of financing to the overall housing affordability. The findings in this thesis indicate that there is an increasing trend of affordability for a median sized house, although it has not reached an appropriate level, while small sized house has become less affordable. Thus, stakeholders need to work together and create an innovative housings and financing model in order to make housings more affordable.