Title: The analysis of factors affecting land value and testing the accuracy of land value zone: case study in Blora, Indonesia

Authors: Mokhamad Surianto; Sulaeman Rahman Nidar; Sylviana Maya Damayanti

Addresses: Faculty of Economics and Business, Universitas Padjadjaran (UNPAD), 46, St. Dipati Ukur, 40132 Bandung, Indonesia; Regional Office of the National Land Agency of the Riau Islands Province, 90, St. M.T Haryono, 29122 Tanjungpinang, Indonesia ' Faculty of Economics and Business, Universitas Padjadjaran (UNPAD), 46, Dipati Ukur Street, 40132 Bandung, Indonesia ' School of Business and Management, Institut Teknologi Bandung (ITB), 10, St. Ganesha, 40132 Bandung, Indonesia

Abstract: The purpose of this study is to determine the level of accuracy of the land value zone (ZNT, Zona Nilai Tanah) that has been established along with the factors that affect the land value in the Blora District. This research is motivated by the rapid development of Blora District that it affects the distribution of the market value of the land. The results showed that from eight observed variables, six variables that significantly affect the value of land, namely variables of distance to the city centre, distance to the local market, accessibility, land use, availability of facilities and infrastructure, and land location. Furthermore, analysis assessment ratio (ASR) study results indicated that ZNT in Blora needs updating or reassessment because it did not reflect its market value. The results of this study are expected to contribute to science especially on the land assessment and determining of ZNT/mass appraisal.

Keywords: land value; Zona Nilai Tanah; ZNT; analysis assessment ratio; ASR; International Association Officers; IAAO; Blora; Indonesia.

DOI: 10.1504/IJSRECE.2019.097678

International Journal of Sustainable Real Estate and Construction Economics, 2019 Vol.1 No.3, pp.232 - 260

Received: 27 Dec 2017
Accepted: 08 Oct 2018
Published online: 04 Feb 2019 *

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