DAFTAR ISI Halaman HALAMAN JUDUL .............................................................................................. i HALAMAN PENGESAHAN .............................................................................. ii HALAMAN PERNYATAAN ............................................................................. iii PRAKATA ........................................................................................................... iv DAFTAR ISI ........................................................................................................ vi DAFTAR TABEL............................................................................................... viii DAFTAR GAMBAR ............................................................................................. x DAFTAR LAMPIRAN ........................................................................................ xi INTISARI ............................................................................................................ xii ABSTRACT ....................................................................................................... xiii BAB I
PENDAHULUAN ................................................................................. 1 1.1. Latar Belakang .................................................................................1 1.2. Keaslian Penelitian ...........................................................................4 1.3. Rumusan Masalah ............................................................................5 1.4. Pertanyaan Penelitian .......................................................................5 1.5. Tujuan Penelitian ..............................................................................6 1.6. Sistematika Penulisan .......................................................................6
BAB II
LANDASAN TEORI/KAJIAN PUSTAKA........................................ 7 2.1. Landasan Teori .................................................................................7 2.1.1. Konsep Nilai, Harga dan Biaya dalam Ekonomi ..................7 2.1.2. Highest and Best Use (HBU) ................................................8 2.2. Kajian Terhadap Penelitian Terdahulu ...........................................10
BAB III METODA PENELITIAN .................................................................. 13 3.1. Desain Penelitian ............................................................................13 3.2. Metoda Pengumpulan Data ............................................................13 3.3. Metoda Analisa Data ......................................................................13 3.3.1. Analisa Kelayakan Fisik dan Peraturan ..............................14 3.3.2. Analisa Pasar ......................................................................16 3.3.3. Perspektif Masyarakat Terhadap Usulan Properti ..............16 3.3.4. Analisa Keuangan ...............................................................17 3.3.4.1. Pendekatan Penilaian .............................................18 3.3.4.2. Analisa Kelayakan Investasi ..................................22
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BAB IV ANALISA DATA ................................................................................ 25 4.1. Analisa Kelayakan Fisik dan Peraturan ..........................................25 4.1.1 Aspek Kelayakan Fisik .......................................................25 4.1.2 Aspek Peraturan/Legalitas ..................................................26 4.2. Analisa Pasar ..................................................................................27 4.2.1. Profil Kota ..........................................................................27 4.2.2. Pertumbuhan Ekonomi .......................................................28 4.2.3. Analisa Pasar Ruko .............................................................30 4.2.4. Analisa Pasar Hotel ............................................................31 4.2.5. Analisa Pasar Swalayan ......................................................32 4.3. Perspektif Masyarakat Terhadap Usulan Properti ..........................33 4.4. Analisa Keuangan/Financial ..........................................................37 4.4.1. Pendekatan Penilaian ..........................................................37 4.4.1.1. Pendekatan Data Pasar...........................................37 4.4.1.2. Pendekatan Biaya ..................................................40 4.4.1.3. Pendekatan Pendapatan .........................................43 4.4.1.4. Kesimpulan Nilai Tanah dan Bangunan ................45 4.4.2. Analisa Kelayakan Keuangan .............................................48 BAB V
SIMPULAN DAN SARAN ................................................................ 51 5.1. Simpulan .........................................................................................51 5.2. Saran ...............................................................................................52
DAFTAR PUSTAKA .......................................................................................... 53 LAMPIRAN ......................................................................................................... 55
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DAFTAR TABEL Halaman Tabel 1.1 Penelitian-Penelitian Terdahulu ............................................................4 Tabel 4.1 Nama Ruko dan Tingkat Harga Sewa Ruko di Kabupaten Bireuen ...30 Tabel 4.2 Nama Hotel dan Tingkat Hunian Hotel di Kabupaten Bireuen ..........32 Tabel 4.3 Nilai Skor ............................................................................................35 Tabel 4.4 Perspektif Masyarakat Terhadap Usulan Properti yang Ditawarkan ..35 Tabel 4.5 Hasil Analisa dari Aspek Kelayakan Fisik, Peraturan, Pasar dan Perspektif Masyarakat Terhadap Usulan Properti yang Ditawarkan ..........................................................................................37 Tabel 4.6 Informasi Data Pembanding ................................................................39 Tabel 4.7 Estimasi Nilai Tanah dengan Pendekatan Data Pasar .........................40 Tabel 4.8 Rekapitulasi Rencana Biaya Pembangunan Ruko ..............................41 Tabel 4.9 Nilai Pasar Lahan setelah Pengembangan dengan Pendekatan Biaya....................................................................................................42 Tabel 4.10 Rekapitulasi Rencana Biaya Pembangunan Swalayan dan Hotel .......42 Tabel 4.11 Nilai Pasar Lahan setelah Pengembangan dengan Pendekatan Biaya ...................................................................................................43 Tabel 4.12 Nilai Properti Ruko dengan Pendekatan Pendapatan ..........................44 Tabel 4.13 Nilai Properti Swalayan dengan Pendekatan Pendapatan ...................44 Tabel 4.14 Nilai Properti Hotel dengan Pendekatan Pendapatan ..........................44 Tabel 4.15 Rekapitulasi Nilai Tanah dan Bangunan Ruko ...................................45 Tabel 4.16 Rekonsiliasi Nilai Properti Ruko.........................................................45 Tabel 4.17 Rekapitulasi Nilai Tanah dan Bangunan Swalayan ............................46 Tabel 4.18 Rekonsiliasi Nilai Properti Swalayan ..................................................47
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Tabel 4.19 Rekapitulasi Nilai Tanah dan Bangunan Hotel ...................................47 Tabel 4.20 Rekonsiliasi Nilai Properti Hotel ........................................................48 Tabel 4.21 Analisa Kelayakan Finansial ruko.......................................................48 Tabel 4.22 Analisa Kelayakan Finansial Swalayan ..............................................49 Tabel 4.23 Analisa Kelayakan Finansial Hotel .....................................................50 Tabel 5.1 Hasil Analisa dari Aspek Fisik dan Peraturan, Pasar, Perspektif Masyarakat dan Finansial ....................................................................51
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DAFTAR GAMBAR Halaman Gambar 4.1 Lokasi Objek dan Data Pembanding .............................................. 38
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DAFTAR LAMPIRAN Halaman Lampiran 1 Kuesioner ............................................................................................55 Lampiran 2 Rekapitulasi Hasil Kuesiooner ...........................................................57 Lampiran 3 Rincian Per Item Penilaian .................................................................58 Lampiran 4 Estimasi Nilai Tanah Dengan Pendekatan Data Pasar .......................59 Lampiran 5 Acuan Biaya Permeter Persegi Komponen Pekerjaan Ruko ..............60 Lampiran 6 Estimasi Rencana Pembangunan Ruko ..............................................61 Lampiran 7 Estimasi Nilai Properti Ruko dengan Pendekatan Pendapatan: Discounted Cash Flow/DCF ...............................................................62 Lampiran 8 Perhitungan Pajak Bumi dan Bangunan/Property Tax Ruko .............63 Lampiran 9 Analisa Kelayakan Ruko ....................................................................64 Lampiran 10 Rekonsiliasi Nilai Ruko ....................................................................65 Lampiran 11 Sketsa Gambar Bentuk Ruko ...........................................................66 Lampiran 12 Acuan Biaya Permeter Persegi Komponen Pekerjaan Swalayan dan Hotel ...........................................................................................67 Lampiran 13 Estimasi Rencana Pembangunan Swalayan dan Hotel .....................68 Lampiran 14 Estimasi Nilai Properti Swalayan dengan Pendekatan Pendapatan: Discounted Cash Flow/DCF ...............................................................69 Lampiran 15 Perhitungan Pajak Bumi dan Bangunan/Property Tax Swalayan ....70 Lampiran 16 Analisa Kelayakan Swalayan ...........................................................71 Lampiran 17 Rekonsiliasi Nilai Swalayan .............................................................72 Lampiran 18 Estimasi Nilai Properti Hotel dengan Pendekatan Pendapatan: Discounted Cash Flow/DCF .............................................................73 Lampiran 19 Perhitungan Pajak Bumi dan Bangunan/Property Tax Hotel ...........74 Lampiran 20 Analisa Kelayakan Hotel ..................................................................75 Lampiran 21 Rekonsiliasi Nilai Hotel....................................................................76
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