DAFTAR ISI Halaman HALAMAN JUDUL ................................................................................................ i HALAMAN PENGESAHAN .................................................................................. ii HALAMAN PERNYATAAN KEASLIAN ............................................................ iii HALAMAN PERSEMBAHAN .............................................................................. iv PRAKATA ................................................................................................................ v DAFTAR ISI ............................................................................................................. vii DAFTAR TABEL .................................................................................................... x DAFTAR GAMBAR ................................................................................................ xi INTISARI ................................................................................................................. xii ABSTRACT ............................................................................................................... xiii BAB I PENDAHULUAN ......................................................................................... 1 1.1 Latar Belakang Masalah....................................................................................... 1 1.2 Keaslian Penelitian............................................................................................... 4 1.3 Rumusan Masalah ................................................................................................ 6 1.4 Pertanyaan Penelitian ........................................................................................... 6 1.5 Tujuan Penelitian ................................................................................................. 7 1.6 Manfaat Penelitian ............................................................................................... 8 1.7 Sistematika Penulisan .......................................................................................... 8 BAB II LANDASAN TEORI .................................................................................. 10 2.1 Landasan Teori ..................................................................................................... 10 2.1.1 Penawaran dan Efisiensi Tanah.................................................................... 10 2.1.2 Konsep Nilai Ekonomi ................................................................................. 10 2.1.3 Metoda Penilaian Properti ............................................................................ 12 2.1.3.1 Pendekatan Perbandingan Penjualan .................................................... 13 2.1.3.2 Pendekatan Biaya ................................................................................. 14 2.1.3.3 Pendekatan Pendapatan ........................................................................ 14 2.1.4 Teori Penilaian Tanah .................................................................................. 15 2.1.4.1 Pendekatan Pasar Untuk Penilaian Tanah ............................................ 15 2.1.4.2 Pendekatan Pendapatan untuk Penilaian Tanah ................................... 16 2.1.5 Discounted Cash Flow (DCF) ...................................................................... 17 2.1.6 Metode Kapitalisasi Langsung ..................................................................... 18 2.1.7 Land Development Analysis (LDA) ............................................................. 19 2.1.8 Rekonsiliasi .................................................................................................. 21 vii 2.2 Kajian Pustaka ..................................................................................................... 22 2.3 Kerangka Penelitian ............................................................................................. 23 2.4 Batasan dan Asumsi Penelitian ............................................................................ 25 BAB III METODE PENELITIAN ......................................................................... 26 3.1 Desain Penelitian ................................................................................................. 26 3.2 Metode Pengumpulan Data .................................................................................. 27 3.3 Definisi Operasional ............................................................................................ 27 3.4 Metode Analisa Data............................................................................................ 28 3.4.1Pendekatan Data Pasar (Market Sales Comparision Approach) ................... 29 3.4.2 Land Development Analysis (LDA) ............................................................. 29 3.4.3 Discounted Cash Flow (DCF) ...................................................................... 31 BAB IV ANALISIS .................................................................................................. 33 4.1 Analisis Ekonomi Kabupaten Pemalang .............................................................. 33 4.1.1 Tinjauan Makroekonomi Kabupaten Pemalang ........................................... 33 4.1.2 Analisis Inflasi Kabupaten Pemalang .......................................................... 37 4.1.3 Analisis Demografi Kabupaten Pemalang ................................................... 39 4.1.4 Rencana Pola Ruang Kabupaten Pemalang ................................................. 41 4.2 Analisis Kawasan Objek Penelitian ..................................................................... 42 4.2.1 Aksesibilitas Kelahan ................................................................................... 42 4.2.2 Lingkungan Sekitar Lahan ........................................................................... 43 4.2.3 Signage Kawasan Lahan .............................................................................. 43 4.2.4 Aglomerasi Kawasan Lahan......................................................................... 44 4.2.5 Pemetaan Potensi Kawasan .......................................................................... 45 4.2.6 Tinjauan Pasar Properti ................................................................................ 46 4.3 Analisis Pasar/Pasaran ......................................................................................... 47 4.3.1 Analisis Produktivitas .................................................................................. 47 4.3.1.1 Analisis Fisik ........................................................................................ 47 4.3.1.2 Analisis Regulasi .................................................................................. 50 4.3.2 Analisis Pasar Sewa Properti........................................................................ 52 4.4 Analisis Pengembangan Properti ......................................................................... 54 4.4.1 Pengembangan Properti Sport Center .......................................................... 55 4.4.2 Pengembangan Properti Exhibition Center .................................................. 56 4.4.3 Pengembangan Properti Gedung Serbaguna (Mixed Use Developement) ... 57 4.5 Analisis Kelayakan Finansial ............................................................................... 58 4.5.1 Tingkat Sewa ................................................................................................ 59 4.5.2 Tarif Sewa .................................................................................................... 59 4.5.3 Analisis Cash Flow Pengembangan ............................................................. 61 4.5.3.1 Pengembangan sport center ................................................................. 61 4.5.3.2 Pengembangan exhibition center .......................................................... 63 4.5.3.3 Pengembangan gedung serbaguna ........................................................ 65 4.5.4 Discount Rate (DR) ...................................................................................... 66 4.5.5 Proyeksi Arus Kas (Cash Flow Projection) ................................................. 67 4.5.6 Net Present Value (NPV) ............................................................................. 68 4.6 Uji Higest and Best Use ....................................................................................... 69 4.7 Estimasi Nilai Tanah Dengan Metode Perbandingan Penjualan ......................... 70 viii 4.8 Rekonsiliasi .......................................................................................................... 71 BAB V SIMPULAN DAN SARAN ......................................................................... 73 5.1 Simpulan .............................................................................................................. 73 5.2 Implikasi .............................................................................................................. 74 5.3 Keterbatasan ......................................................................................................... 74 5.4 Saran .................................................................................................................... 74 DAFTAR PUSTAKA ............................................................................................... 76 LAMPIRAN .............................................................................................................. 80 ix DAFTAR TABEL Halaman Tabel 1.1 Ringkasan Penelitian Terdahulu ................................................................ 5 Tabel 2.1 Bagan Proses Penilaian Properti ................................................................ 13 Tabel 4.1 Realisasi Penerimaan Kabupaten Pemalang Tahun 2015 .......................... 34 Tabel 4.2 Jumlah Produksi Pertanian dan Perikanan Tahun 2015 ............................. 35 Tabel 4.3 Perkembangan Penerbitan SIUP, TDP, di Kabupaten Pemalang Tahun 2013-2015 .................................................................................................. 36 Tabel 4.4 Realisasi Ekspor Kabupaten Pemalang Menurut Komoditi Tahun 2014 .. 36 Tabel 4.5 Jumlah Penduduk dan Pertumbuhan Penduduk Kabupaten Pemalang Tahun 2011-2015....................................................................................... 39 Tabel 4.6 Aglomerasi Kawasan Objek Penelitian ..................................................... 45 Tabel 4.7 Banyaknya Pembuatan PPAT Untuk Jual Beli .......................................... 47 Tabel 4.8 Regulasi Pengembangan Lahan ................................................................. 55 Tabel 4.9 Detail Pengembangan Sport Center ........................................................... 56 Tabel 4.10 Detail Pengembangan Exhibition Center ................................................. 56 Tabel 4.11 Rincian Pengembangan Gedung Serbaguna ............................................ 57 Tabel 4.12 Asumsi Tingkat Sewa Properti ................................................................ 59 Tabel 4.13 Asumsi Tarif Sewa................................................................................... 60 Tabel 4.14 Asumsi Biaya Pengembangan Sport Center ............................................ 63 Tabel 4.15 Komponen Biaya PT.Dyandara Media International.,Tbk ...................... 64 Tabel 4.16 Komponen Biaya Operasional Gedung Serbaguna.................................. 65 Tabel 4.17 Indikasi Nilai Simulasi LDA ................................................................... 68 Tabel 4.18 Hasil Rekonsiliasi .................................................................................... 72 x DAFTAR GAMBAR Halaman Gambar 1.1 Peta Administratif Wilayah Kabupaten Pemalang ................................. 3 Gambar 2.1 Skema Land Development Analysis ....................................................... 20 Gambar 2.2 Kerangka Penelitian ............................................................................... 24 Gambar 4.1 Laju Inflasi Kabupaten Pemalang Tahun 2011-2015............................. 38 Gambar 4.2 Persebaran Penduduk di Kabupaten Pemalang ...................................... 40 Gambar 4.3 Rencana Tata Ruang Wilayah Kabupaten Pemalang Tahun 2011-2021 .................................................................................... 42 Gambar 4.4 Signage Kawasan Lahan ........................................................................ 44 Gambar 4.5 Peta Pola Ruang Kecamatan Comal ....................................................... 46 Gambar 4.6 Lokasi Objek Penelitian ......................................................................... 48 Gambar 4.7 Lokasi Properti Objek dan Data Pembanding ........................................ 71 xi