Article Per Year (5 Year)
p-Index From 2020 - 2025
0.23
P-Index
This Author published in this journals
All Journal Ilomata International Journal of Social Science
Warlan
Unknown Affiliation
Religion Humanities Education Law, Crime, Criminology & Criminal Justice Other

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
An Experimental Study on Property Valuation Accuracy in Indonesia: A Government Valuers' Perspective Prasetyo, Kristian Agung; Riyanto, Edy; Warlan
Ilomata International Journal of Social Science Vol. 6 No. 2 (2025): April 2025
Publisher : Yayasan Ilomata

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijss.v6i2.1635

Abstract

Market value estimated by property valuers is essential as it is used for various purposes both in public and private sectors. Hence, the accuracy of market value estimate is of paramount importance. However, valuation involves subjectivity, so it is bound to suffer from errors. This study is aimed at studying such errors. For this purpose, this study uses a market price of a parcel of land in the southern part of Jakarta. This particular area was chosen due to its significant number of property transactions compared to other regions in Jakarta. Government valuers at the Ministry of Finance were invited to provide their value estimate of that property. They were only allowed to use a pre-made worksheet provided by the researchers. This study shows the estimated market value is around 16.9% of the market price. Differences in rank, experience, or neighborhood knowledge have no significant relation to the accuracy of market value estimate. Most participants can demonstrate that their market value estimates are relatively similar, showing low variation between valuers.
Co-Authors Edy Riyanto Kristian Agung Prasetyo, Kristian Agung