A Hybrid Property Pricing Model: The Case of Apartment Residents in Jakarta Indonesia

Abstract

Purpose: This research initiates a property pricing model that involves various perspectives and consumer considerations in selecting properties, including aspects of sales comparison, investment, hedonic life style, brand equity, and digital life style. Design/Methodology/Approach: The study investigates 222 residents of middle class apartments in Jabotadebek (Great Jakarta). The study employs Structural Equation Modelling (SEM) to test the research hypotheses.Findings: The research found that the price of apartments in the region is strongly influenced by a combination of multi aspects of sales comparison, investment, hedonic life style, brand equity, and digital life style. Practical Implications: The research has implications for investment shows the weakest contribution to the apartment price. Originality/Value: This study found that the price of apartments in the region is strongly influenced by a combination of multi aspects of sales comparison, investment, hedonic life style, brand equity, and digital life style.