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All Journal Journal of Asset Management and Public Economy Optimum: Jurnal Ekonomi dan Pembangunan
Prativi, Fatima Putri
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Economics, Econometrics & Finance Social Sciences

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Millennial Generation (Gen-Y) Preferences Towards Landed House Ownership in Yogyakarta Urban Agglomeration Using Logistic Regression Prativi, Fatima Putri; Yuniarti, Nur Aini; Kamara, Ibrahin Sorie
JAMPE (Journal of Asset Management and Public Economy) Vol. 3 No. 1 (2024)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v3i1.9078

Abstract

The city of Yogyakarta has become a magnet for the millennial generation (Gen-Y), leading to increased urbanization as residents flock to the city. This surge has resulted in a growing demand for land to accommodate public facilities, social amenities, and housing for workers. Despite soaring land prices, driven by high demand, land stocks have not diminished. Over the last 16 years, land prices have escalated by 30 times. However, the wages of Gen-Y formal workers in the DIY region stand at IDR 2,361,434, with an annual increase of only 8.51%. This rapid growth in property prices has not kept pace with the income growth of the millennial generation, raising concerns about their ability to access landed house ownership. This study aims to identify the preferences of the millennial generation regarding landed house ownership in the Yogyakarta Urban Agglomeration. The analytical method employed is Logistic Regression, involving 125 respondents of Gen-Y workers aged 27 to 41 years in the Yogyakarta Urban Agglomeration. Seven variables, encompassing 25 categorical predictors, were considered. The significant indicators influencing Gen-Y preferences in landed house ownership include the cost of building a house, building materials, and the nominal installment of the house. The findings of this research can be instrumental for relevant stakeholders in formulating policies in the housing sector, particularly in the regulation of subsidized housing for the Gen-Y. The contribution of this study lies in providing essential information for informed decision-making and effective policy implementation to tackle the housing challenges faced by the millennial generation in the Yogyakarta Urban Agglomeration.
Application of Hedonic Pricing Model and Geographic Information System on Property Valuation in Yogyakarta Amalia, Nurisqi; Yuniyarti, Nur Aini; Prativi, Fatima Putri
JAMPE (Journal of Asset Management and Public Economy) Vol. 3 No. 2 (2024)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v3i2.9335

Abstract

This study aims to: 1) identify the differences in housing choices between Generation Z (students) and the previous generation (parents or guardians); 2) determine the factors influencing housing purchase decisions; and 3) map the areas of interest for Universitas Gadjah Mada (UGM) students based on price. The research employs a combination of the Hedonic Pricing Model (HPM) and Geographic Information System (GIS), a method that remains limited in the field of property research. The findings reveal that significant factors affecting property prices are building area and location, with the majority of UGM students choosing to reside in Ngaglik District, Sleman Regency. Sleman Regency is also the predominant area where UGM students purchase housing in Yogyakarta. Key attributes influencing UGM students' housing decisions include a safe neighbourhood, residential environment, and distance from waste centers. This research contributes valuable information to property appraisers regarding property price distribution in Yogyakarta and its influencing factors, and provides crucial insights for effective decision-making and policy implementation in regional economic development planning, especially in less popular areas.
Model development for estimating sales adjusment magnitude in real estate appraisal using hedonic price model and paired data analysis Bagaskara, Bagaskara; Prativi, Fatima Putri
Optimum: Jurnal Ekonomi dan Pembangunan Vol. 15 No. 2 (2025)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/optimum.v15i2.11478

Abstract

This study aims to develop a model that can identify a reference for determining the adjustment magnitude in the market approach used in appraisal practice. Currently, it is challenging for appraisers to accurately determine the extent of these adjustments. Data collection in this study employed purposive sampling, ensuring that the criteria and specifications closely mirrored the data collection process in appraisal practices. The researcher selected three districts to capture any possible variations in location affecting the adjustment magnitude. The collected data was regressed to build a hedonic price model, which was later analyzed using the paired data analysis method to meet ideal model conditions and specifications. The results of this study demonstrate that the adjustment magnitude in the market approach can be identified from price differences resulting from variations in a single attribute. The highly heterogeneous housing market conditions in Indonesia present significant challenges for conducting paired data analysis in a practical context. Artificial conditions were required to meet the specifications for paired data analysis. The implication of the study that appraisers in determining adjustments in the market approach. Additionally, the model/procedure developed in this study can be applied in research across different contexts and objects, contributing to the advancement of real estate valuation science.
Preference Gaps Between Developers and Millennials in Landed Housing in Yogyakarta Urban Agglomeration Prativi, Fatima Putri; Bagaskara, Bagaskara; Nurpita, Anisa; Amalia, Nurisqi; Bello, Anas Usman
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 1 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i1.12998

Abstract

The increasing urbanization in Yogyakarta Urban Agglomeration has driven rapid residential development, especially in landed housing. This study analyzes the gap between property developers' preferences and millennial consumers' expectations in housing provision. Utilizing mixed methods, primary data were collected from 54 property practitioners through structured questionnaires and in-depth interviews. Quantitative analysis included Exploratory Factor Analysis (EFA), Pearson Correlation, and K-Means Clustering to identify dominant developer preferences. Qualitative phenomenological analysis confirmed market trends and millennial preferences. The findings reveal that developers prioritize factors such as land position, house type, and land shape, while millennial consumers emphasize affordability, accessibility, and neighborhood comfort. A comparative analysis using Principal Component Analysis (PCA) and independent ttests revealed significant preference misalignments, particularly in access to main roads and environmental quality. The study highlights the necessity for coordinated policy intervention and developer adaptation to align housing supply with millennial demands, proposing the integration of public facility proximity and price affordability into future residential planning strategies. This research contributes by highlighting the mismatch in housing value perceptions between stakeholders and consumers. Practically, these insights provide policymakers and developers with a framework for designing housing policies and projects that better integrate affordability, accessibility, and livability, ensuring that they meet the housing needs of millennials.
Co-Authors Amalia, Nurisqi Bagaskara, Bagaskara Bello, Anas Usman Kamara, Ibrahin Sorie Nurpita, Anisa Yuniarti, Nur Aini Yuniyarti, Nur Aini