IDENTIFYING THE IMPACT OF PADALARANG HIGH-SPEED RAILWAY STATION ON ITS SURROUNDING LAND PRICES

• Main Author: Putri Saragih, Chrisantya
• Format: Final Project
• Language: Indonesia
• Subjects: Perencanaan wilayah
• Online Access: https://digilib.itb.ac.id/gdl/view/81681
• Institution: Institut Teknologi Bandung

The Jakarta-Bandung High-Speed Railway Station is one of the national strategic projects aimed at enhancing connectivity and mobility while also driving positive impacts on economic growth in its vicinity. One notable aspect often impacted by infrastructure development is the change in land prices. Currently, there is no prior research discussing the influence of the Padalarang High-Speed Railway Station on the surrounding land prices. This study aims to identify the impact on land prices around the station. The determination of research variables employs Content Analysis based on a collection of variables from previous studies that discuss the impact of stations on land price changes using the Hedonic Pricing Model. Factor analysis and regression analysis with Ordinary Least Squares are conducted to assess the significance of the factors influencing land prices. The results indicate that the presence of the Padalarang High-Speed Railway Station has not yet influenced the surrounding land prices. Land prices around the station are influenced by Neighborhood Attribute factors, Transportation Attribute factors, Intrinsic Attribute factors. Environmental attribute factors include Building Coverage Ratio (KDB), Floor Area Ratio (KLB), and Zoning. Transportation attribute factors consist of the distance to the Central Business District (CBD), the distance to educational facilities, and the distance to healthcare facilities. Intrinsic land attribute factors include the size and shape of the land. Surrounding parcel attribute factors include road width and regional conditions. Based on previous studies, the lack of influence from the High-Speed Railway Station on land price increases may be due to several factors, such as the operational period is only being less than one year or the low mobility of high-speed rail users.