VALUATION OF MARKET RENTAL VALUE OF A PLANNED DORMITORY USING HEDONIC PRICING METHOD: A CASE STUDY OF POLYTECHNIQUE OF STATE FINANCE STAN, INDONESIA
DOI:
https://doi.org/10.21837/pm.v19i17.997Keywords:
Market Rental Valuation, Hedonic Pricing Model, Willingness to PayAbstract
This study determines the attributes that affect the market rental value of dormitories using the Hedonic Pricing Model. The proportional stratified random sampling technique was used to obtain data from 1,292 PKN STAN students in levels 1 to 3, which was analyzed using the SPSS statistical application. Based on the calculation, the dormitory value varies between IDR11,719,521 (RM3,424.82) to IDR15,482,242 (RM4524,41). The determinants that have a significant positive effect on dormitory value are bathroom location, average remittances per month, earnings per month, room size, gender, and origin, while the type of residence attribute has a negative correlation effect. The results of this study will be beneficial inputs for the PKN STAN in determining the market rental value, the quality of buildings and facilities are in accordance with the market preference.Downloads
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eISSN: 0128-0945 © Year. The Authors. Published for Malaysia Institute of Planners. This is an open-access article under the CC BY-NC-ND license.
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