The Effect of Residential Preferences on the Willingness to Pay for Residential with Near Toll Road Gate in Surabaya
DOI:
https://doi.org/10.9744/duts.7.1.33-46Keywords:
Willingness to pay, Toll Road, Physical Condition, Concept Offered, Location, FinancialAbstract
This study targeted to investigate whether factor of physical condition, planning concept offered, location, and financial affect the willingness to pay for residential with near toll road gate in Surabaya and also find out the percentage of willingness to pay for residential with near toll road gate in Surabaya. The samples are people who have intention of buying residential or have puchase residential in Surabaya and in productive age. The data analysis method used is Partial Least Square (PLS) using the Smart PLS program. The results of this analysis showed that physical condition, planning concept offered and location affect the willingess to pay for residential with near toll road gate in Surabaya, while financial not significantly affect. For willingness to pay residential with near toll road gate in Surabaya, most of them answer between 0-10%.
References
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Altaf, M. A., Jamal, H., & Whittington, D. (1992). "Willingness to Pay for Water in Rural Punjab, Pakistan." The World Bank. No. 11397, 1-170.
Bina, M., Kockelman, K. and Suescun, D. (2006). "Location Choice vis-á-vis Transportation: the Case of Recent Home Buyers. Proceedings of the 85th Annual Meeting of the Transportation. Research Board, 2006, University of Texas, Austin.
Daly, J., Gronow, S., Jenkins, D., & Plimmer, F. (2003). "Consumer Behaviour in the Valuation of Residential Property." Property Management. Vol. 21, No. 5, 295-314.
Feng, X., & Humphreys, B. (2018). "Assessing the Economic Impact of Sports Facilities on Residential Property Values: a Spatial Hedonic Approach." Journal of Sports Economics, Vol. 19, No. 2, 188-210.
Gibbons, S. & Machin, S. (2008). "Valuing School Quality, Better Transport, and Lower Crime: Evidence from House Prices." Oxfod Review of Economic Policy. Vol. 24, No. 1, 99-119.
Haddad, M., Judeh, M., & Haddad, S. (2011). "Factors Affecting Buying Behavior of an Apartment an Empirical Investigation in Amman, Jordan. Research Journal of Applied Sciences, Engineering and Technology. Vol. 3 No. 3, 234-239.
Hanley, N. & Splash, C.L., (1993). "Valuing Environmental Goods: the Contingent Valuation Method." Edward Elgar Publishing Limited, London.
Hårsman, B., & Quigley, J. M. (1991). "Housing Markets and Housing Institutions in a Comparative Context" in Housing markets and housing institutions: an international comparison, Springer, Dordrecht.
Hartanto, T. (2016). "Gated Community Studi Kasus: Perumahan Casa Grande di Yogyakarta." Jurnal Teknik Sipil Dan Arsitektur. Vol. 18, No. 22.
Hinkle, T. F., & Combs, E. R. (1987). "Managerial Behaviour of Home Buyers." Journal of Consumer Studies & Home Economics. Vol. 11, No. 4, 375-386.
Hou, Y. (2010). "Housing price bubbles in Beijing and Shanghai?" International Journal of Housing Markets and Analysis. Vol. 3 No. 1, 17-37.
Huang, H. J. (1994). 城市交通网络平衡分析: 理论与实践. 人民交通出版社.
Loomis, J., Brown, T., Lucero, B., & Peterson, G., (1996). "Improving Validity Experiments of Continget Valuation Methods: Results of Efforts to Reduce the Disparity of Hypothetical and Actual Willingness to Pay." Land Economics. Vol. 72, No. 4, 450-461.
Mariadas, P. A., Abdullah, H., & Abdullah, N. (2019). "Factors Influencing the First Home Purchase Desicion of Middle-Income Earners (M40) in Selangor, Malaysia." e-Bangi Vol. 16, No. 1, 1-11.
Mutiah, F., Setijanti, P., Faqih, M,. "Perilaku Konsumen dalam Pembelian Rumah yang Pertama di Surabaya." Prosiding Seminar Nasional Manajemen Teknologi XVIII, 27 Juli 2013.
Nadiri, M. I., & Mamuneas, T. P. (1994). "Infrastructure and Public R&D Investments, and the Growth of Factor Productivity in US Manufacturing Industries (No. w4845)." National Bureau of Economic Research.
Opoku, R. A., & Abdul-Muhmin, A. G. (2010). "Housing Preferences and Attribute Importance among Low-Income Consumers in Saudi Arabia." Habitat international, Vol. 34, No. 2, 219-227.
Perez, B., & Lockwood, S. (2009). "Current toll road activity in the US: a survey and analysis." Report prepared by PB Consult for Federal Highway Administration Office of Transportation Policy Studies. <http://www. fhwa. dot. gov/ipd/pdfs/2008_toll_activity_white_paper. pdf.> (Juli, 17, 2014).
Rahadi, R. A., Wiryono, S. K., Koesrindartoto, D. P., & Syamwil, I. B. (2015). "Factors Influencing the Price of Housing in Indonesia." International Journal of Housing Markets and Analysis. Vol. 8, No. 2, 169-188.
Sengul, H., Yasemin, O., & Eda, P. (2010). "The Assessment of the Housing in the Theory of Maslow’s Hierarchy of Needs." European Journal of Social Sciences. Vol. 16, No. 2, 214-219.
Sumaryoto. (2010). "Dampak Keberadaan Jalan Tol terhadap Kondisi Fisik, Sosial, dan Ekonomi Lingkungannya." Journal of Rural and Development. Vol. 1, No. 2.
Vaughn, C. M. (1971). "Toll Roads: Economic Impact." Research Report No. 60, Legislative Research Commission, Kentucky.
Xiao, Q., & Randolph Tan, G. K. (2007). "Signal Extraction with Kalman Filter: a Study of the Hong Kong Property Price Bubbles." Urban Studies. Vol. 44, No. 4, 865-888.
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Published
2020-04-30
How to Cite
Pranoto, V. W., & Njo, A. (2020). The Effect of Residential Preferences on the Willingness to Pay for Residential with Near Toll Road Gate in Surabaya. Dimensi Utama Teknik Sipil, 7(1), 33–46. https://doi.org/10.9744/duts.7.1.33-46
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