2020
DOI: 10.26905/jkdp.v24i1.3565
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Clustering and regional growth in the housing market: Evidence from Indonesia

Abstract: The housing market is one of the monetary policy instruments in macro-prudential terms. The overall policy adopted through the Loan-to-Value ratio does not accommodate different regional characteristics. Location and area characteristics are important factors that influence the development of housing property prices. This study uses panel data regression analysis, with objects of 15 cities in Indonesia during 2007-2017. The results of the analysis provide a proof that the building rent, population density, con… Show more

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Cited by 3 publications
(2 citation statements)
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“…The provided methodological approach in our publication could be applied to the dataset to help identify dependency between the time series data. Nugroho et al (2020) analyzed housing prices of Indonesia and focused on multiple regions and the growth rate of housing prices. Their research focused mainly on the analysis of 4 growth types of housing price; however, based on the presented methodology, it seems that the types were determined based on the analytical and/or expert approach, and not statistical analysis.…”
Section: Discussionmentioning
confidence: 99%
See 1 more Smart Citation
“…The provided methodological approach in our publication could be applied to the dataset to help identify dependency between the time series data. Nugroho et al (2020) analyzed housing prices of Indonesia and focused on multiple regions and the growth rate of housing prices. Their research focused mainly on the analysis of 4 growth types of housing price; however, based on the presented methodology, it seems that the types were determined based on the analytical and/or expert approach, and not statistical analysis.…”
Section: Discussionmentioning
confidence: 99%
“…The reviewed methods focus mainly on spatial clustering approaches, and only briefly mention the importance of temporal analysis, thus the proposed methodological approach of our publication could provide a tool for market segmentation. Nugroho et al (2020) analyzed regional economic growth to form regional clustering based on the speed of house price growth, so that the monetary policy in the housing sector achieves the target. However, real estate analysis is not only limited to price analysis.…”
Section: Introductionmentioning
confidence: 99%