THE EFFECT OF CHANGES IN MACROECONOMIC CONDITIONS ON HOUSING PRICES IN INDONESIA

• Main Author: Nurfahrudin, Iwan
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/56853
• Institution: Institut Teknologi Bandung

This paper aimed to find the relationship between macroeconomic changes to residential property prices. Macroeconomic proxies as independent variables are used in the form of GDP, inflation, and interest rates, while the residential property price index is used as the dependent variable as a reflection of housing prices. This study used secondary data from Q1 2008 to Q3 2020 with multiple linear regression analysis model. The results showed that partially, there are 2 variables that affect housing prices, namely GDP and interest rates with the results of t count of 32.182 and 1.751 which is greater than t table of 1.678. The results of the model stated that all independent variables simultaneously affect the dependent variable with a calculated F value of 543.918 with a coefficient of determination of 97.2%. The limitation of this research is that the secondary data used in the study cannot predict property prices accurately because there are external factors that cannot be translated into the model.