LAND ACCESSIBILITY : THE EFFECTS OF DISTANCE VERSUS TRAVELING TIME TO CBD AND FACILITYATTRIBUTES ON RESIDENTIAL LAND PRICE

Suparmono, Suparmono and Darsono, Darsono and Jhony, Sarungu and Guntur, Riyanto (2017) LAND ACCESSIBILITY : THE EFFECTS OF DISTANCE VERSUS TRAVELING TIME TO CBD AND FACILITYATTRIBUTES ON RESIDENTIAL LAND PRICE. International Journal of Applied Business and Economic Research, 15 (15). pp. 27-39. ISSN 0972-7302

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Abstract

This study was intended to reveal the effect of accessibility believed to exert an effect on land price, where the accessibility refers to the variable of distance to city center or central business district (CBD). In this study, the accessibility was measured in terms of distance as well as travelling time from land location to CBD. In addition to accessibility to CBD, the effects of land location attributes were also tested, consisting of distances to market and schools. Based on the multiple linear regression analysis results on 379 land samples, it was shown that spatial distances did not exert significant influences, while the travelling time exert significant influences on the land prices. Travelling times to Gadjah Mada University campus, Malioboro area, traditional markets, elementary schools, junior high school and senior high schools exerted significant influences on housing land prices. The distance to markets also exerted significant influence on housing land prices.

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