Analysis of the Effect of Location, Design, Housing Facilities, Environmental Characteristics and Developer Brands on Land Value of Housing Properties in Medan Sunggal

Received: 17 October 2021 Accepted: 22 November 2021 Published: 07 December 2021 DOI: 10.32996/jefas.2021.3.2.17 This study was conducted to examine the effect of location, design, housing facilities, environmental characteristics, and developer brand on the land value of housing properties in Medan Sunggal. The population in this study were all houses in the Imperial Mansion Housing Complex and the Habitat Housing Complex with a total of 250 housing units that had been inhabited and the sample was 72 housing units. The data analysis technique used is multiple linear regression analysis. The results showed that location, facilities, environmental characteristics, and developer's brand had a positive and significant effect on the market value of land, and design variables had no significant effect on the market value of land considering that these parameters had a significant effect, then the development of locations, facilities, and environmental characteristics should also contribute to the brand developer. KEYWORDS


Introduction 1 1.1 Background
The property and real estate industry is one sector that reflects the state of an economy in a country. The results of research conducted by the Association of Indonesian Real Estate Developers (REI) and the University of Indonesia in 2020 showed that the property and real estate sectors contributed to the economic growth of 28% in terms of consumption spending in the building sector. The development of the property and real estate sector is able to attract investors because the value of land tends to increase compared to other types of investment. This is because the supply of land is fixed while the demand will always increase along with the increase in population and the increasing human need for housing (Widodo, 2012). Thus, investors need to manage their investment portfolio by adding risk-free assets or assets that have little risk, in other words, investors need to diversify their investments (Octavianus, et. al., 2021).
One of the factors that increase the value of land in housing areas with the type of housing or complex is located and is one of the factors considered by buyers in buying property. Meanwhile, according to Fanning (2005), the increase in property value is influenced by physical factors, location, and legal factors. In the physical factor itself, including housing facilities, it can increase property value, where to increase sales of housing complex types is to add facilities that are already available, such as commercial and shopping facilities, playgrounds, jogging tracks and making attractive gates and always maintain and perform routine maintenance on existing facilities so that they are well maintained and comfortable when used in order to increase the attractiveness of prospective home buyers (Kustamar et al, 2013) Apart from the facilities and characteristics of the housing environment, the location factor can be seen as a factor that affects the value of a property. Two properties have the same physical form but if the location is different, then the value will certainly be different (Arifin, 2011).
There is an invisible/intangible factor, namely the developer's brand that can increase the land value of a property. Consumer confidence in certain brands and brand image, especially a positive image, is an important thing. Because without a strong and positive image, it is very difficult for companies to attract new customers and retain existing ones and increase property values (Tjiptono, 2001). Widodo (2012), with the results of his research showing that based on partial analysis, it turns out that not all independent variables have a positive influence on housing purchasing decisions in Semarang City, only variables (location, environment, income, and demand sensitivity) have a positive influence, while the facility variable has a negative influence on housing purchase decisions in the city of Semarang. and research proves that all independent variables (facilities, location, income, and demand sensitivity) simultaneously have a significant influence on the dependent variable, namely the buyer's decision.
Research on land values in this study was carried out on housing in the Medan Sunggal sub-district, Medan Municipality such as Imperial Mansion housing and Habitat Housing. These two housing complexes are located in adjacent areas with similar housing characteristics, but an indication of the market value of land in the two housing estates has a significant difference, as shown in Table 1.1 below, This study aims to analyze the factors that affect the value of the land, especially to analyze the influence of the developer's brand on the value of the land. This research is important so that the public, developers, and appraisers are not mistaken in determining the market value for a property. And be able to look at the factors that contribute to the creation of land value.
Apart from the differences and contradictions in the effect of location, design, housing facilities and environmental characteristics, and developer's brand on the market value of land, this study aims to examine the effect of these factors on the market value of the land. The findings of this study are expected to contribute to science in the field of property management and valuation, its implications for developers and prospective housing buyers.

Market Value Definition
Market value according to KEPI & SPI 101 point 3.1 (MAPPI, 2018) Market value is defined as the estimated amount of money that can be obtained from the exchange of an asset or liability on the valuation date, between buyers who are interested in buying and sellers who are interested in selling, in free transaction ties, the marketing of which is carried out appropriately, where both parties each act based on their understanding, prudence and without coercion.

Location Definition
The development of housing land location has implications for the value and price of land. The process of increasing the value and price of land begins with the development of the function and role of the area. If an area develops due to increased production capabilities and better transportation facilities, the utilization and use of land will also increase both intensively and extensively. (Hilman, 2004).  (2017) where design is one of the factors thought to affect property values. Housing with three different housing concepts which includes six building designs, both from the facade of the building and the interior which refers to aesthetic aspects, lighting, air circulation, comfort, and security and with good housing design will increase the value of the property.

Housing Facility Definition
Based on previous researchers, namely Fachrudin and Fachrudin (2014), Meak, Yuvenalis Kanisius, (2018), and Kurniawan, Yuniaristanto, and Sutopo (2016) that the factor of completeness of facilities has a positive and significant influence on housing property values. With the facilities in the housing, it will increase buyer interest and increase the selling price of the property.

Environment Characteristic Definition
Housing characteristics were taken based on previous research conducted by Abidoye and Albert (2016) and Wisnupraba and Christiono (2015). Characteristics of housing with one gate system so that privacy and security are maintained.

Developer Brand Definition
The brand or Credibility of a developer/developer is related to consumer confidence in choosing a house. According to economic principles, high demand will be in line with higher supply. So this will also have an impact with an increased value, for similar properties, in the same area but developed by developers with different levels of credibility. (Yudi, 2015).

Research sample and data
The population in this study are all houses in the Imperial Mansion Housing Complex and the Habitat Housing Complex because the housing complex is located on the same road, which is on the same road, namely Jalan Pasar III, Medan Sunggal and has almost the same concept and target market but was built. or developed by two different developers. Based on information compiled from the developer's management office, the number of houses in the two complexes is 361 units. However, from this figure, the number of houses that are currently inhabited is 250 units. In determining the number of samples, the researcher used a statistical approach referring to the Slovin theory, so the results of calculations using the Slovin formula obtained the number of samples to be used in this study, namely 71.43 (rounded to 72)

Operational definition and variable measurement
This research is survey research. Data collection techniques are carried out in two ways, namely:

a)
Questionnaire This technique is done by providing a list of questions that will be filled out by residents of the Imperial Mansion Housing Complex and Habitat Housing Complex as correspondents. The distribution of the questionnaire using the Sampling technique, distributed by researchers by taking samples that happened to be encountered at that time.

b)
Interview Interviews were conducted with the management and residents of the housing estate as additional information about the Imperial Mansion Housing Complex and the Habitat Housing Complex.
1. The location variable in this study is the place where the location of the house for each type stands in one housing.
2. The design variable in this study is a housing house design with three different types which include six-building designs and interior parts that refer to aesthetic aspects, lighting, air circulation, comfort, and security.
3. The facility variables in this study are the facilities available around the housing to support the activities of the residents of the housing as well as other available facilities.
4. The environmental characteristics variable in this study is the existence of good environmental quality and neighborly comfort so that social interaction is formed.

5.
The developer's brand in this study includes the good name owned by the developer which can increase the value of the property's land and whether the developer's brand factor influences the decision to purchase the property.
6. The land value in the study is the result of the extraction carried out to find out the market value of the land in the housing (1). Esthetics of facade (2). Esthetics of interior (3). Esthetics of interior spatial (4). Lighting (5). Air Circulation (6). Building Structure (7). Quality of wall paint (8). Quality of floor (9). Quality of roof (10). Quality of doors (11). Quality of windows   Table 4.3 it can be explained that all items as a measure of the observed variables are reliable, because the Cronbach alpha value of the tested variables has an SIA (Standardized Item Alpha) greater than the allowed reliability value, which is 0, 6 Based on the normality test of the data using the Kolmogorov-Smirnov test, it can be seen that the unstandardized residual of all variables shows a significance value (p) of 0.200 which is greater than 0.05, so it can be concluded that the normality assumption is met.

Tabel 4.5 Multicollinearity test using VIF
Based on Table 4.5 above, it can be concluded that for the 5 independent variables there is no multicollinearity shown by the VIF value of the five independent variables which is smaller than 10.

Analysis of the Effect of Location, Design, Housing Facilities, Environmental Characteristics and Developer Brands on Land Value of Housing Properties in Medan Sunggal
Page | 176  Source: Processed Primary Data Based on Table 4.11, it can be concluded that the regression equation is as follows : Y = -6.618 + 0.122 X1 -0.29 X2 + 0.69 X3 + 0.126 X4+ 0.105 X5.

Partial Significance Test Results (t-test)
Based on the results of Table 4.11, it was found that:  Based on Table 4.12, it is known that the value of Adjusted R-squared () = 0.481. This value can be interpreted that the variables of location, design, housing facilities, environmental characteristics, and developer brand affect the market value of land by 48.1%, while the remaining 51.9% is influenced by other factors.

Discussion 4.5.1 The effect of location on the land value of housing properties in Medan Sunggal
Based on the results of this study with the t-test, it is known that the location variable affects the land value positively and significantly on the property land value in Medan Sunggal. One of the factors that respondents agreed with was the strategic position of the house where the house was strategically positioned and close to shopping centers, schools, and places of worship.
Based on the results of respondents' answers regarding the location of the house where the proximity of the house to the main gate access can be the basis for choosing a residence as time efficiency. The closer the house is to the main door access, the more attractive the house will be and the land value of the house will increase. In this modern era, where prospective residents will pay more to get a good housing location. Property with a good location will also increase the value of the property and it will also increase the

Effect of design on the land value of housing properties in Medan Sunggal
Based on the results of this study with the t-test, it is known that the design variable does not significantly affect the value of property land in Medan Sunggal, where based on the answers from respondents that the majority of buyers will buy houses according to housing developer standards or in vacant conditions. And buyers tend to build and design according to their own preferences for the house, so the design has no significant effect on increasing the land value of the property in Medan Sunggal housing, but it will further increase the building value of the property and is in line with research conducted by other researchers. i.e. Slightly different from this study, that the design has a positive and significant effect on property values. Housing with three different housing concepts which includes six building designs, both from the facade of the building and the interior which refers to aesthetic aspects, lighting, air circulation, comfort, and security and with good housing design will increase the value of the property.
Based on the results of this study with the t-test, it is known that environmental characteristics variables affect land values positively and significantly affect property land values in Medan Sunggal, the results show that environmental variables have a positive and significant effect on property values. The first thing that residents pay attention to is the security of the house from crime. The location of housing that is far from the city center is a consideration in the selection of housing homes because it has a low noise level and the presence of a sewer that is kept clean makes the housing environment safe from flooding. Continuous activity in the area causes this housing to not be considered a low-pollution environment.
Humans always live side by side with other people. However, the availability of parking space will also become a conflict that often occurs in a housing estate, therefore having regulations from the developer on parking policies and road widths will also create comfort and avoid conflicts between residents of housing.
Characteristics of a good and comfortable housing environment are one of the factors that are quite a determinant of good and bad housing, where an environment that is low in pollution, noise pollution, safe from flooding, and comfortable to live in, will tend to be more attractive.
Based on the principle of supply and demand, housing with good environmental characteristics will be more desirable and will also increase the land value of the housing.
The results of this study are in line with Abidoye and Albert (2016) and Wisnupraba and Christiono (2015) that environmental characteristics have a positive and significant influence on the value of housing property, from several studies that have been carried out, in this study, it shows that environmental characteristics variables affect the value of the property, because it will also increase the land value of the housing.

The influence of the developer's brand on the land value of housing properties in Medan Sunggal
Based on the results of this study with the t-test, it is known that the developer brand variable affects the land value positively and significantly affects the property land value in Medan Sunggal, according to the respondents' answers, residents think that the housing is prestigious housing and has an elite impression and believes that housing is with the developer brand has an influence in increasing buying interest and the value of the housing land.
A good developer brand can be seen from the historical housing or property that has been developed previously, where a good developer will still maintain and care for the housing that has been built or developed, a good developer can also be seen from the many properties that have been successful and successful in Indonesia. develop or be developed.
These things show that a good developer brand can improve the social status of residents and will be in demand by the community as a dream place to live that can increase the value of property land, based on research that has been done it was found that the Wiraland Properti Group developer brand is considered superior to Vigourland because better known by the public and has a history of property development that is quite successful and accepted by the community. The results of this study are in line with, Hoang, Ho, Phan, Le (2019), Rahadi, Wiryono, Koesrindartoto, (2012) that Brand developers affect consumer buying interest and the value of the property.

Conclusion
Based on the results of the study, it can be concluded that the location, facilities, environmental characteristics, and developer's brand have a positive and significant effect on the market value of the land and the design variables have no significant effect on the market value of the land. This shows that property developers must pay more attention to public trust in big names, which of course must be accompanied by the quality of their property products, the commitment, and the integrity of the developer. location, facilities, and environmental characteristics are components that property developers can build and develop, given that these parameters have a significant effect, the development of the location, facilities, and environmental characteristics should contribute to the developer's brand. Further researchers are expected to be able to research developer brands that can affect housing land values and further expand the range of variables that are suspected to have a significant effect on housing property values, and on housing reputation variables it is suggested that further research can be carried out to find out which housing classification can increase the value of housing. property. For the community, it can be taken into consideration in determining the value of housing property, namely adjusting the price offered with the facilities and infrastructure provided around the housing area.