The Effect of Campus Existence on Boarding House Rental Prices: A Case Study of Universitas Muhammadiyah Yogyakarta

Abstract

The establishment of the Universitas Muhammadiyah Yogyakarta (UMY) campus has acted as a catalyst for economic expansion in the local neighborhoods, particularly evident in the real estate sector, characterized by the proliferation of boarding houses. This study endeavors to comprehensively examine the impact of the presence of Universitas Muhammadiyah Yogyakarta on the rental rates of boarding houses. The research's primary objective is to make a valuable contribution to the domain of property economics, utilizing secondary data derived from online platforms specializing in boarding house listings, notably Mamikos. A dataset encompassing 200 entries was gathered from the Mamikos website, encompassing variables such as boarding house rental fees, the proximity of the boarding houses to UMY, room dimensions, available facilities, and the categorization of boarding houses based on gender. The analysis of the dataset employs a multiple regression model, applying the Ordinary Least Square (OLS) technique. The findings derived from this study underscore several significant observations. Notably, the distance between the boarding house and the UMY campus displays a significant and, negative correlation with boarding house prices. This indicates that the rental rates of boarding houses tend to be higher the closer they are situated to the UMY campus. Conversely, factors such as room size and provided facilities exhibit a positive and considerable influence on the boarding house rental rates. Additionally, the study ascertains that gender-based differentiation does not lead to a significant variance in the rental charges between male and female boarding houses. In summary, this research effectively elucidates the intricate relationship between the proximity to UMY, room dimensions, facilities, and the rental pricing of boarding houses, thereby contributing valuable insights to the realm of property economics.