ANALYSIS OF APARTMENT GROWTH AND LAND PRICE CHANGE PATTERNS IN GENTRIFICATION SITUATIONS IN JAKARTA

• Main Author: Riwandy
• Format: Theses
• Language: Indonesia
• Subjects: Perencanaan wilayah
• Online Access: https://digilib.itb.ac.id/gdl/view/87582
• Institution: Institut Teknologi Bandung

The rapid development of Jakarta as an economic hub has spurred significant urbanization, leading to an imbalance in housing supply amidst limited land availability. This situation compels the lower-middle class to reside in settlements with inadequate physical conditions. This phenomenon has driven the rise of vertical housing, such as apartments, as a solution to land scarcity. However, these apartments are often constructed on high-priced land to preempt further price escalation in the future. Unlike in other countries, where gentrification due to apartment development is typically associated with declining land prices caused by urban expansion and rising crime, Jakarta’s apartment growth has prompted gentrification under different circumstances. This study aims to analyze patterns of land price changes and their relationship to the distribution and growth of apartments in Jakarta. The objectives include identifying the distribution and growth of apartments, examining patterns of land price changes, and formulating the factors influencing land price change patterns concerning apartment growth in Jakarta. The study employs a spatial analysis approach combined with qualitative descriptive, associative descriptive, and descriptive statistical analysis to explore land price change patterns and apartment growth. These patterns are analyzed based on favored corridors and the assessment of environmental physical characteristics. The research examines apartment growth through the lens of economic factors, housing policies, land price change patterns, and typologies of apartments within key corridors. Findings reveal that land price changes in Jakarta predominantly show an upward trend, with proximity to Central Business Districts (CBDs) and commercial areas identified as key drivers of positive price changes. The pattern of increasing land prices in Jakarta diverges from the Rent Gap Theory observed in other contexts, highlighting a unique dynamic in its urban development landscape