# RECORD 4541442153fb2d18b8949cafaa5b6f2f956b3413 # TITLE: Pengaruh risiko lingkungan pesisir terhadap harga penawaran properti residensial di Jakarta Utara # YEAR: 2026.0 VENUE: Widya Bhumi DOI: 10.31292/wb.v6i1.285 # AUTHORS: Muthi'a Sekhar Negari; Syahna Marisah; M. Saefulloh; Hardana Gading Perdana Putra; Maria Putri Paramita # PAGES: 23 CANDIDATE TABLE PAGES (1-based): [] # ABSTRACT: The coastal areas of North Jakarta face structural threats due to a combination of tidal flooding and land subsidence, which have the potential to affect residential property asking prices. This study aims to analyze the impact of coastal environmental risks on residential property asking prices in North Jakarta (excluding PIK) using the Hedonic Price Model (HPM) approach. The data used includes 141 observations of property asking prices sourced from the Kaggle platform and analyzed using Multiple Regression Analysis (MRA) with robust standard errors, extended with spatial econometric models (SAR and SEM). The results indicate that land subsidence is the only significant environmental risk variable, where a 1 cm/year increase in the subsidence rate reduces property asking prices by 28.32%. Conversely, the flood hazard variable showed no significant effect, suggesting limited utilization of risk information by market participants. Meanwhile, the distance to the seawall showed a significant positive coefficient, indicating that proximity to the seawall serves as a proxy for risk rather than a protection premium. These findings suggest that the real estate market tends to be more responsive to direct and easily observable environmental risks, while probabilistic risks are less internalized in prices. Therefore, policy interventions and improved access to risk information are crucial for maintaining property values in coastal areas.  Kawasan pesisir Kota Jakarta Utara menghadapi ancaman struktural akibat kombinasi banjir rob dan penurunan muka tanah yang berpotensi mempengaruhi harga penawaran properti residensial. Penelitian ini  bertujuan menganalisis pengaruh risiko lingkungan pesisir terhadap harga penawaran properti residensial  di Jakarta Utara (non-PIK) menggunakan pendekatan Hedonic Price Model (HPM). Data yang digunakan mencakup 141 observasi harga penawaran properti yang bersumber dari platform kaggle dan dianalisis menggunakan Multiple Regression Analysis (MRA) dengan robust standard errors, diperluas dengan model ekonometrika spasial (SAR dan SEM). Hasil penelitian menunjukkan bahwa penurunan muka tanah merupakan satu-satunya variabel risiko lingkungan yang berpengaruh, di mana setiap kenaikan laju penurunan tanah 1 cm/tahun menurunkan harga penawaran properti sebesar 28.32%. Sebaliknya, variabel bahaya banjir tidak menunjukkan pengaruh signifikan yang mengindikasikan keterbatasan pemanfaatan informasi risiko oleh pelaku pasar. Sementara itu, jara ===== PAGE 1 (score 8, numeric-paren 0, table-words 2, var-words 4) ===== Widya Bhumi, Vol. 6, No. 1, April 2026, page 87-109 |87 WIDYA BHUMI PENGARUH RISIKO LINGKUNGAN PESISIR TERHADAP HARGA PENAWARAN PROPERTI RESIDENSIAL DI JAKARTA UTARA Muthi’a Sekhar Negari1*, Maria Putri Paramita2, Syahna Marisah3, Hardana Gading Perdana Putra4, M. Hafidz Meiditambua S.5 1,2,3,4,5 Politeknik Keuangan Negara STAN Jalan Bintaro Utama 5 Sektor V, Jurang Mangu Timur, Pondok Aren, Kota Tangerang Selatan, Banten 15222 * Koresponden email: muthiasn68@gmail.com Nomor handphone: +62-822-5960-1061 ABSTRACT The coastal areas of North Jakarta face structural threats due to a combination of tidal flooding and land subsidence, which have the potential to affect residential property asking prices. This study aims to analyze the impact of coastal environmental risks on residential property asking prices in North Jakarta (excluding PIK) using the Hedonic Price Model (HPM) approach. The data used includes 141 observations of property asking prices sourced from the Kaggle platform and analyzed using Multiple Regression Analysis (MRA) with robust standard errors, extended with spatial econometric models (SAR and SEM). The results indicate that land subsidence is the only significant environmental risk variable, where a 1 cm/year increase in the subsidence rate reduces property asking prices by 28.32%. Conversely, the flood hazard variable showed no significant effect, suggesting limited utilization of risk information by market participants. Meanwhile, the distance to the seawall showed a significant positive coefficient, indicating that proximity to the seawall serves as a proxy for risk rather than a protection premium. These findings suggest that the real estate market tends to be more responsive to direct and easily observable environmental risks, while probabilistic risks are less internalized in prices. Therefore, policy interventions and improved access to risk information are crucial for maintaining property values in coastal areas. Keywords: Land Subsidence, Coastal Environmental Risk, North Jakarta, Hedonic Price Model, Residential Property Asking Prices INTISARI Kawasan pesisir Kota Jakarta Utara menghadapi ancaman struktural akibat kombinasi banjir rob dan penurunan muka tanah yang berpotensi mempengaruhi harga penawaran properti residensial. Penelitian ini bertujuan menganalisis pengaruh risiko lingkungan pesisir terhadap harga penawaran properti residensial di Jakarta Utara (non-PIK) menggunakan pendekatan Hedonic Price Model (HPM). Data yang digunakan mencakup 141 observasi harga penawaran properti yang bersumber dari platform kaggle dan dianalisis menggunakan Multiple Regression Analysis (MRA) dengan robust standard errors, diperluas dengan model ekonometrika spasial (SAR dan SEM). Hasil penelitian menunjukkan bahwa penurunan muka tanah merupakan satu-satunya variabel risiko lingkungan yang berpengaruh, di mana setiap kenaikan laju penurunan tanah 1 cm/tahun menurunkan harga penawaran properti sebesar 28.32%. Sebaliknya, variabel bahaya banjir tidak menunjukkan pengaruh signifikan yang mengindikasikan keterbatasan pemanfaatan informasi risiko oleh pelaku pasar. Sementara itu, jarak ke tanggul menunjukkan koefisien positif signifikan yang mencerminkan bahwa kedekatan dengan tanggul berfungsi sebagai proksi risiko, bukan protection premium. Temuan ini menunjukkan bahwa pasar properti cenderung lebih responsif terhadap risiko lingkungan yang bersifat langsung dan mudah diamati, sementara risiko yang bersifat probabilistik kurang terinternalisasi dalam harga. Oleh karena itu, intervensi kebijakan dan peningkatan akses informasi risiko menjadi penting dalam menjaga nilai properti di kawasan pesisir. Kata Kunci : Penurunan Muka Tanah, Risiko Lingkungan Pesisir, Jakarta Utara, Hedonic Price Model, Harga Penawaran Properti Residensial Vol. 6 No. 1 April 2026 Received Feb 19th, 2026 Accepted April 14th, 2026 Published April 16th, 2026