Analysis of factors affecting gross income multiplier of warehouse property in Medan City and Deli Serdang Regency, North Sumatra Province
Keywords:
Gross Income Multiplier (GIM), Warehouse, Property Value, Gross IncomeAbstract
The transformation from traditional trade patterns to digital trade has impacted practically every element of life. E-commerce, or digital trade, indirectly impacts the property industry's development. The increasing demand for modern warehousing is one of them. The Gross Income Multiplier (GIM) is the ratio of a property value to its annual gross income potential. GIM can be a simple and easy method for calculating a property value. This research aims to determine the GIM of warehouse properties in the research area and investigate the factors that influence it. These factors are the distance to Belawan Port, building area, frontage, building age, road width, position/location, and building design. Purposive sampling was used in this study, with a total sample of 81 warehouse units in 30 warehouse complexes. Multiple linear regression analysis with observational data was the analytical approach employed in this study. According to the findings, the average GIM calculation for warehouse properties in the research area was 26.32. The regression analysis revealed that the distance to Belawan Port and the building age have a negative and significant effect on the GIM index of warehouses.
Downloads
References
Akhtar and Dahnani. 2011. Industrial Land Use and Land Value Pattern in Karachi City. Sindh University Research Journal, Vol.43 (1) 81-88.
Ali, Majdi. 2006. Tingkat Kapitalisasi Properti Pergudangan dan Faktor-Faktor yang Mempengaruhinya di Surabaya. [Tesis]. Yogyakarta: Universitas Gadjah Mada.
Anggranie, Gita. 2017. Pertumbuhan E-Commerce Dan Pergudangan Modern. Bandung.
Appraisal Institute. 2013. The Appraisal of Real Estate 14th Edition. Chicago: Appraisal Institute.
Beekmans, Jasper and Beckers, Pascal. 2013. A Hedonic Price Analysis of The Value of Industrial Sites. Netherlands: Radboud University Nijmegen.
Boykin, James H, Gray, Margaret T. 1994. The Relevance and Application of The Gross Income Multiplier. The Appraisal Journal, Vol. 62, No. 2, 203-208.
Cooney, K. Sean. 1993. Adjusted Overall Rates and Gross Income Multipliers: A Fresh Persfective. The Appraisal Journal, Vol. 61, No. 4, 570-575.
Dananto. 2005. Analisis Gross Income Multiplier (GIM) Properti Perhotelan dan Faktor-Faktor yang mempengaruhinya di Jakarta Pusat. [Tesis]. Yogyakarta: Universitas Gadjah Mada.
Downing, P.B. 1973. Factor Effect Commercial Land Values: An Empirical Study of Milwaukee. Land Economics, Vol.49, pp 44-45.
Dunse, Neil et al. 2005. The Spatial Pattern of Industrial Rents and The Role of Distance. Journal of Property Investment & Finance Vol. 23 No. 4, pp. 329-341.
Fujiki, Kazuhiko. 1989. A Study on CBD Land Value Variation. [Thesis]. Canada: The University of British Columbia.
Hartnett, Michael D. 1988. Expanded Use of the Gross Income Multiplier. The Appraisal Journal, Vol. 56, No. 2, 158-162.
Hyunwoo, Lim and Minyoung, Park. 2019. Modeling the Spatial Dimensions of Warehouse Rent Determinants: A Case Study of Seoul Metropolitan Area, South Korea. Asia Pacific School of Logistics, INHA University. Incheon, Korea
Khasanah, Uswatun and Khoirudin, Rifki. 2020. Multiplier Gross Income Analysis as a Property Asset Value Determination in the City of Yogyakarta. International Journal of Economic and Business (IJEBA). Vol. 1, No. 1. Yogyakarta.
Kode Etik Penilai Indonesia & Standar Penilaian Indonesia (KEPI & SPI). 2018. Edisi VII. MAPPI: Jakarta.
Kowalski, Joseph G. and Paraskevopoulos, Christos C . 1990. The Impact of Location on Urban Industrial Land Prices. Journal of Urban Economics, Vol. 1, No (4): 52-72.
Lusht, K.M. 1997. Real Estate Valuation. Principles and Aplication. Irwin. USA
McDonald, John F. and Yurova, Yuliya. 2007. Property Taxation and Selling
Prices of Industrial Real Estate. Review of Accounting and Finance
Vol. 6 No. 3, 2007 pp. 273-284.
Nguyen, Doan and Nguyen, Thu Hong Thi. 2021. The External Impacts of storic Landmarks and Buildings on Townhouse Prices in Vietnam. International Journal of Housing Markets and Analysis Vol. 14 No. 5, pp. 1092-1110
Panangian, Martin Luther. 2009. Tingkat Kapitalisasi Properti Pergudangan dan Faktor-Faktor yang Mempengaruhi Sewa di Kabupaten Tangerang. [Tesis]. Yogyakarta: Universitas Gadjah Mada.
Peiser, R.B. 1987. The Determinants of Nonresidential Urban Land Values. Journal of Urban Economics, Vol. 22, pp. 340-360. Yogyakarta: Universitas Gadjah Mada
Protopapasa, Polyvios and Dimopoulos, Thomas. 2019. Factors Affecting the Price of Industrial Land in the District of Nicosia, Cyprus. School of Architecture, Land & Environmental Sciences, Department of Real Estate, Neapolis : University Pafos. Cyprus.
Razali, Nur Shuhada et al. 2020. Factors Affecting Industrial Property Value. International Journal of Scientific & Technology Research Volume 9.
Republik Indonesia. 1960. Peraturan Pemerintah Pengganti Undang-Undang (PERPU) Republik Indonesia Nomor 2 Tahun 1960 tentang Pergudangan. Jakarta.
Republik Indoensia. 2008. Undang-Undang Republik Indonesia Nomor 17 Tahun 2008 tentang Pelayaran. Jakarta.
Saejoon, Oh and Jongchil, Shin. 2016. An Analysis of the Factors Affecting Warehouse Rents. Advanced Science and Technology Letters Vol. 126 (Business). Department of Real Estate Studies, Konkuk University-South Korea.
Siahaya, Willem. 2013. Sukses Supply Chain Management. Cetakan Pertama. Jakarta: In Media.
Sugiyono. 2017. Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta.
Ventolo, William L and Martha R. William. 1998. Fundamental of Real Estate Appraisal. Real Estate Education Company. Chicago.
Warman, John. 2012. Manajemen Pergudangan. Cetakan Ketujuh. Terjemahan. Ir. Begdjomuljo. Jakarta: Pustaka Sinar Harapan.
Yani, Ahmad. 2002. Model angka pengganda pendapatan kotor (GIM) properti perhotelan di Kota Yogyakarta. [Tesis]. Yogyakarta: Universitas Gadjah Mada.
Published
How to Cite
Issue
Section
Copyright (c) 2022 International journal of health sciences
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Articles published in the International Journal of Health Sciences (IJHS) are available under Creative Commons Attribution Non-Commercial No Derivatives Licence (CC BY-NC-ND 4.0). Authors retain copyright in their work and grant IJHS right of first publication under CC BY-NC-ND 4.0. Users have the right to read, download, copy, distribute, print, search, or link to the full texts of articles in this journal, and to use them for any other lawful purpose.
Articles published in IJHS can be copied, communicated and shared in their published form for non-commercial purposes provided full attribution is given to the author and the journal. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
This copyright notice applies to articles published in IJHS volumes 4 onwards. Please read about the copyright notices for previous volumes under Journal History.
