The Study of Attachment between Distribution Pattern of Land Price and Apartments Price (Case Study: Vertical Housing Development in Administration City of South Jakarta)

Abstract

Land and it’s utilization on housing development undoubtedly have become an essential issue in various studies. The comprehension on each locations of the case has allowed several important studies of particular patterns related to the capacity of land and housing market. Especially Jakarta as the most promising area for property business, also has the highest lands and apartments price in Indonesia. Land and apartment are considered as the most unique commodities, highly profitable. But since 2014, there has been lots of warnings about possibility of apartments oversupply; stagnation of apartment sales also has been indicated in locations at the edge of this city, which will enable the demand’s transition from landed house to apartment, as form of vertical housing. Based on fundamental theories of land and apartment pricing, the research presumes that apartment development is considered as an effort of land intensifications, to trigger the enhancement of land prices in particular locations. Therefore, this research means to comprehend the correlation of distribution pattern of lands price with apartments price. The location’s selection is based on expansion of the urban development of Jakarta Metropolitan Area to southern region which has become a general tendency.