Integrasi keberlanjutan dalam penilaian properti melalui sistem informasi penilaian nasional
DOI:
https://doi.org/10.54957/jolas.v5i6.1986Keywords:
Green Premium, National Valuation Information System, Property Valuation, Real Estate Valuation, SustainabilityAbstract
Perkembangan pasar real estate global menunjukkan bahwa keberlanjutan semakin diakui sebagai komponen penting dalam pembentukan nilai properti, seiring dengan munculnya fenomena green premium, penguatan pembiayaan hijau, dan meningkatnya permintaan investor institusional berbasis ESG. Di sisi lain, Indonesia sedang mendorong modernisasi sistem penilaian properti melalui pengembangan Sistem Informasi Penilaian Nasional (SIPN) yang berpotensi menjadi platform integrasi data fisik dan teknis bangunan, termasuk aspek keberlanjutan. Namun demikian, praktik valuasi properti di Indonesia masih didominasi pendekatan tradisional dan belum memasukkan dimensi keberlanjutan secara terstruktur. Penelitian ini menggunakan metode scoping review terhadap studi empiris, laporan pasar, dan standar teknis bangunan hijau untuk mengkaji relevansi keberlanjutan dalam penilaian properti dan potensi integrasinya ke dalam SIPN. Hasil analisis menunjukkan bahwa keberlanjutan terkait dengan nilai aset melalui dua mekanisme utama, yaitu peningkatan nilai pada properti berperforma lingkungan baik (green premium) dan penurunan nilai pada properti yang tidak memenuhi standar (brown discount), serta berimplikasi pada akses pembiayaan dan risiko investasi. Meskipun ekosistem Indonesia menunjukkan kesiapan awal, tantangan masih terdapat pada aspek standardisasi data, infrastruktur valuasi, dan harmonisasi regulasi. Penelitian ini menawarkan kerangka konseptual untuk mendukung transisi menuju penilaian properti yang lebih responsif terhadap keberlanjutan serta memberikan arah kebijakan bagi integrasi bertahap aspek keberlanjutan dalam SIPN sebagai bagian dari transformasi valuasi aset nasional.
References
Anna, F. D., & Bottero, M. (2021). Green premium in buildings: Evidence from the real estate market of Singapore. Journal of Cleaner Production, 286, 125327. https://doi.org/10.1016/j.jclepro.2020.125327
BREEAM. (2011). The world’s foremost environmental assessment method and rating system for buildings. https://files.bregroup.com/breeam/BREEAM-In-Use-International_Overview.pdf
CBRE. (2025). 2025 Asia Pacific investor intentions survey. https://www.cbre.com/insights/reports/2025-asia-pacific-investor-intentions-survey
Chegut, A., Eichholtz, P., & Holtermans, R. (2020). Energy efficiency information and valuation practices in rental housing. The Journal of Real Estate Finance and Economics, 60, 181–204. https://doi.org/10.1007/s11146-019-09720-0
Chegut, A., Eichholtz, P., & Kok, N. (2014). Supply, demand and the value of green buildings. Urban Studies, 51(1), 22–43. https://doi.org/10.1177/0042098013484526
Devine, A., & Kok, N. (2015). Green certification and building performance: Implications for tangibles and intangibles. Journal of Portfolio Management, 41(6), 151–163. https://doi.org/10.3905/jpm.2015.41.6.151
Devine, A., Sanderford, A., & Wang, C. (2024). Sustainability and private equity real estate returns. The Journal of Real Estate Finance and Economics, 68, 161–187. https://doi.org/10.1007/s11146-022-09914-z
Eichholtz, P., Kok, N., & Quigley, J. M. (2010). Doing well by doing good? Green office buildings. American Economic Review, 100, 2492–2509. https://doi.org/10.1257/aer.100.5.2492
Eichholtz, P., Kok, N., & Quigley, J. M. (2013). The economics of green building. The Review of Economics and Statistics, 95(1), 50–63. https://doi.org/10.1162/REST_a_00291
Fuerst, F., & Mcallister, P. (2011). Green noise or green value? Measuring the effects of environmental certification on office values. Real Estate Economics, 39(1), 45–69. https://doi.org/10.1111/j.1540-6229.2010.00286.x
Fuerst, F., Mcallister, P., Nanda, A., & Wyatt, P. (2015). Does energy efficiency matter to home-buyers? An investigation of EPC ratings and transaction prices in England. Energy Economics, 48, 145–156. https://doi.org/10.1016/j.eneco.2014.12.012
Green Building Council Indonesia. (2013). Perangkat penilaian GREENSHIP: GREENSHIP untuk bangunan baru versi 1.2. https://www.gbcindonesia.org/files/resource/24b36fed-82a0-46eb-88ea-5197f14f7f68/Ringkasan GREENSHIP NB 1.2 _ EN ID.pdf
GRESB. (2025a). 2025 GRESB real estate benchmark report: ECE progressive income growth fund. https://www.ecerep.com/wp-content/uploads/2025-GRESB-Benchmark-Report-EPIG.pdf
GRESB. (2025b). GRESB real estate assessmenet: 2025 how to read your benchmark report. https://www.gresb.com/nl-en/resources/2025-how-to-read-your-real-estate-benchmark-report/
Hyland, M., Lyons, R. C., & Lyons, S. (2013). The value of domestic building energy efficiency — evidence from Ireland. Energy Economics, 40, 943–952. https://doi.org/10.1016/j.eneco.2013.07.020
IFRS Foundation. (2021). About the International Sustainability Standards Board. https://www.ifrs.org/groups/international-sustainability-standards-board/
International Finance Corporation. (2023). Building green: Sustainable construction in emerging markets. https://www.ifc.org/en/insights-reports/2023/building-green-in-emerging-markets
International Finance Corporation. (2025). Sustainable buildings: Finance Reference guide. https://www.ifc.org/en/insights-reports/2025/sustainable-buildings-finance-reference-guide
IWBI. (2020). WELL v2: The next version of the WELL building standard. https://kb-well-support.s3.amazonaws.com/space-5/mediaLibrary/2526/well-building-standard-v2-q4-2020-wellapv2-02-03-23.pdf
JLL. (2024). Global real estate transparency index. https://www.jll.com/en-sea/insights/global-real-estate-transparency-index
Kok, N., & Jennen, M. (2012). The impact of energy labels and accessibility on office rents. Energy Policy, 46, 489–497. https://doi.org/10.1016/j.enpol.2012.04.015
Kok, N., Miller, N., Morris, P., Kok, N., Miller, N. G., & Morris, P. (2012). The economics of green retrofits. Journal of Sustainable Real Estate, 4(1), 4–22. https://doi.org/10.1080/10835547.2012.12091838
Lorenz, D., & Lützkendorf, T. (2011). Sustainability and property valuation. Journal of Property Investment & Finance, 29(6), 644–676. https://doi.org/10.1108/14635781111171797
Lützkendorf, T., & Lorenz, D. (2007). Integrating sustainability into property risk assessments for market transformation. Building Research & Information ISSN:, 35(6), 644–661. https://doi.org/10.1080/09613210701446374
Morri, G., Dipierri, A., & Colantoni, F. (2024). ESG dynamics in real estate: temporal patterns and financial implications for REITs returns. Journal of European Real Estate Research, 17(2), 263–285. https://doi.org/10.1108/JERER-01-2024-0005
OECD. (2024). Harnessing public procurement for the green transition: Good practices in OECD countries. https://doi.org/10.1787/e551f448-en
Otoritas Jasa Keuangan. (2021). Roadmap Keuangan Berkelanjutan Tahap II (2021 – 2025). In Otoritas Jasa Keuangan (pp. 1–21). https://ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Roadmap-Keuangan-Berkelanjutan-Tahap-II-(2021-2025).aspx
Peraturan Presiden RI. (2025). Peraturan Presiden (Perpres) Nomor 12 Tahun 2025 tentang Rencana Pembangunan Jangka Menengah Nasional Tahun 2025 - 2029. https://peraturan.bpk.go.id/Details/314638/perpres-no-12-tahun-2025
Rodríguez-Álvarez, J., Casares-Gallego, M. A., Casares-Gallego, M. A., Vázquez, M. de los Á. S., Prado, H. S., & Rocamonde-lourido, J. (2024). An integrated planning methodology for a just climatic transition in rural settlements. Buildings, 14, 1025. https://doi.org/10.3390/buildings14124036
Royal Institution of Chartered Surveyors. (2021). RICS valuation-global standards. https://www.rics.org/content/dam/ricsglobal/documents/standards/Red-Book-Global-Standards-incorporating-IVS.pdf
Shazmin, S. A. A., Sipan, I., Sapri, M., Ali, H. M., & Raji, F. (2017). Property tax assessment incentive for green building: Energy saving. Energy, 122, 329–339. https://doi.org/10.1016/j.energy.2016.12.078
Tricco, A. C., Lillie, E., Zarin, W., O’Brien, K. K., Colquhoun, H., Levac, D., Moher, D., Peters, M. D. J., Horsley, T., Weeks, L., Hempel, S., Akl, E. A., Chang, C., McGowan, J., Stewart, L., Hartling, L., Aldcroft, A., Wilson, M. G., Garritty, C., … Straus, S. E. (2018). PRISMA extension for scoping reviews (PRISMA-ScR): Checklist and explanation. Annals of Internal Medicine, 169(7), 467–473. https://doi.org/10.7326/M18-0850
Undang-Undang RI. (2024). Undang-undang (UU) Nomor 59 Tahun 2024 tentang Rencana Pembangunan Jangka Panjang Nasional Tahun 2025-2045. https://peraturan.bpk.go.id/Details/299728/uu-no-59-tahun-2024
UNEP-WCMC, & UNEP FI. (2025). Accountability for nature: Comparison of nature-related assessment and disclosure frameworks and standards (Issue February). https://www.unepfi.org/wordpress/wp-content/uploads/2025/02/Accountability-for-Nature_V1_2.pdf
United Nations Environment Programme. (2025). Not just another brick in the wall: The solutions exist, Scaling them will build on progress and cut emissions fast. https://build-up.ec.europa.eu/en/resources-and-tools/publications/not-just-another-brick-wall
USGBC. (2019). LEED v4.1 building design and construction. https://www.usgbc.org/sites/default/files/2021-03/LEED v4.1 BD%2BC Guide 04092019.pdf
Warren-Myers, G. (2012). The value of sustainability in real estate: a review from a valuation perspective. Journal of Property Investment & Finance, 30(2), 115–144. https://doi.org/10.1108/14635781211206887
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Amrie Firmansyah, Wirawan Firman Nurcahya

This work is licensed under a Creative Commons Attribution 4.0 International License.








