THE ANALYSIS OF HOUSING AFFORDABILITY GAP IN AFFORDABLE HOUSING PROVISION FOR MILLENNIALS AND GEN-Z WORKERS IN DKI JAKARTA PROVINCE
Property inflation is rising every year affecting the rent price and buying price of housing are too high. While the acceleration of Regional Minimum Wage of DKI Jakarta’s raise is not equal to the property inflation rising rate. This implies on how Jakarta keeps absorbing labors without providin...
Saved in:
| Main Author: | |
|---|---|
| Format: | Theses |
| Language: | Indonesia |
| Subjects: | |
| Online Access: | https://digilib.itb.ac.id/gdl/view/80764 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Property inflation is rising every year affecting the rent price and buying price of
housing are too high. While the acceleration of Regional Minimum Wage of DKI
Jakarta’s raise is not equal to the property inflation rising rate. This implies on how
Jakarta keeps absorbing labors without providing them with chances to have
affordable housing nearby the office area. To answer that problem, this research’s
purpose is headed towards the finding of how much the housing affordability gap is by
using the analysis of estimated housing hedonic price and estimated housing demand.
The housing hedonic price estimation is calculated by defining the variables according
to the housing attributes in Hedonic Pricing Method and is analyzed by using the
multiple linear regression analysis resulting the equation of P= -58,755 + 2,519
bedroom unit + 3,315 land area + 1,095 building area + 2,985 density – 19,998
inundated dummy. For the estimated housing demand analysis, it is calculated by using
the multiple linear regression analysis resulting the equation of LnQ = 288,646 +
0,048ln monthly needs -1,361ln age + 0,038ln time travel to work + 0,333ln working
period – 0,225ln number of dependents + 54,970 dummy of sex + 26,308 dummy of
marital status + 42,752 dummy of social class + 0,508 dummy of working realm. Thus,
the analysis of housing affordability gap can be calculated by using the affordability
gap equation, AG = MV – AP. The market value (MV) is defined by the highest
subsidized housing price for the low-cost level and hedonic price for the middle cost
and high cost level. While the affordable price (AP) is the amount of savings per month
to buy a house (ability to pay). The result of this research has found that there are
affordability gaps in low-cost and middle cost levels which have the housing demand
below the market prices for each class. |
|---|