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Growing Science » Decision Science Letters » Determining the factors influencing residential property price: A comparative study between Indonesia and Malaysia

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Decision Science Letters

ISSN 1929-5812 (Online) - ISSN 1929-5804 (Print)
Quarterly Publication
Volume 11 Issue 4 pp. 485-496 , 2022

Determining the factors influencing residential property price: A comparative study between Indonesia and Malaysia Pages 485-496 Right click to download the paper Download PDF

Authors: Raden Aswin Rahadi, Sudarso Kaderi Wiryono, Yunieta Anny Nainggolan, Kurnia Fajar Afgani, Rostam Yaman, Ahmad Shazrin Mohamed Azmi, Farrah Zuhaira Ismail, Jumadil Saputra, Dwi Rahmawati, Aisyah Moulynia

DOI: 10.5267/j.dsl.2022.6.002

Keywords: Residential Property Price, Consumer Decision, Preferences, Marketing Strategy, Comparative study

Abstract: The property is a unique product that cannot be contrasted with other commercial products due to pricing conditions. Property price determination is one of the crucial aspects of property development activities because of the profit margin made by the developer and the purchasing preferences. This study attempts to extend the literature that has largely focused on factors of housing prices in developed markets and provided recent evidence of housing price determinants in two countries (i.e., Indonesia and Malaysia). Thus, this study examines the factors affecting housing prices in Jakarta Metropolitan Region and Greater Kuala Lumpur. A quantitative approach was used involving two countries, namely Indonesia and Malaysia. The data was collected using a survey questionnaire through purposive sampling. A total of 100 respondents (Indonesia) and 134 respondents (Malaysia) participated in this study. The data was analyzed using descriptive (frequency) and inferential statistics (chi-square test and multinomial regression). The results indicated that housing location, property funding, and health have a significant effect on residential property prices in Indonesia. Besides that, the results displayed that housing physical design, home design and construction, developer and real estate products, development concepts, housing location, property funding, social status, health, law provisions, and external factors do not affect residential property price in Malaysia. Despite being neighbors, Indonesia and Malaysia have distinct economic and landscape characteristics. Furthermore, considering Indonesia has a higher number of Covid-19 cases than Malaysia, significant information on how the pandemic has affected the demand, cost, and pricing of residential housing in Jakarta and Kuala Lumpur will be provided. The findings of this study will provide recommendations to investors, buyers, and policy about the residential housing industry's prospects for growth in emerging nations following the pandemic.


How to cite this paper
Rahadi, R., Wiryono, S., Nainggolan, Y., Afgani, K., Yaman, R., Azmi, A., Ismail, F., Saputra, J., Rahmawati, D & Moulynia, A. (2022). Determining the factors influencing residential property price: A comparative study between Indonesia and Malaysia.Decision Science Letters , 11(4), 485-496.

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Journal: Decision Science Letters | Year: 2022 | Volume: 11 | Issue: 4 | Views: 2158 | Reviews: 0

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