The impact of location on the Jakarta condominium prices

Abstract

It is well-documented and common knowledge that location is one of the most important factors influencing property prices. This article examines the relationship between condominium prices and distances from the jakarta cbo. Although prices decline with increasing distance, the pattern is not uniform. For some distances, prices decrease sharply while for other distances the price drop is more .gradual. Although the pricing pattern generally conforms to theoretical expectations, in some instances the initial price decline is followed by a price increase. This pricing pattern illustrates the inadequacy of the linear pricing model in representing the jakarta condominium market. A non-linear model is more appropriate. The pricing pattern is very useful to developers as well as marketing agents in determining the relevant pricing levels for their condominium developments.