Economic Feasibility Analysis of The Hols Housing Development Project in Banjaran, Bandung Regency

Abstract

The growth of urban population drives the increasing need fordecent and affordable housing. The phenomenon of rising houseprices that are not comparable to people's incomes, especially themillennial generation, is a major challenge in the housing sector. The millennial generation has a preference for housing thatsupports a creative and flexible lifestyle, including comfortablehousing for working from home. In this context, the concept of agrowing house is one solution that can answer these needs. Agrowing house allows its residents to build and develop a housegradually according to their needs and economic capabilities. TheHols housing is located in Banjaran, Bandung Regency, which hasexperienced rapid development in recent years. With the support ofinfrastructure, such as the Soreang-Pasirkoja (Soroja) Toll Road, theaccessibility of this area has increased significantly. Banjaran offersthe advantage of having a large area of land, a quiet environment, and a rapidly growing local economic potential. The development ofthe "The Hols" housing project in this area uses a growing houseapproach with three housing type options, namely stage 1 (72/44m²), stage 2 (72/90.5 m²), and stage 3 (72/108 m²). The results ofthe investment analysis of The Hols–Bandung project show that thisproject is feasible to run. The business cooperation between thedeveloper and the land owner and the bank as the constructioncredit provider provides a profit after tax of 15%, with a value of Rp. 18,195,46413.51 for 1 year (12 months).