House price analytics for Greater Jakarta
What is this house worth, and which listings support it?
A valuation aid for landed houses in Greater Jakarta (Jabodetabek). Pin the house on the map, enter its specifications, and get a point estimate, a price range, the main value drivers, and comparable listings.
Greater Jakarta market at a glance
Cleaned Rumah123 listings dataset- Listings analysed
- Areas covered
- Median per m² floor area
- Cities and regencies
Median price per m² of floor area, by city
Price map by area
Open market explorerWho is Valora for?
Valora is designed as an early-stage aid: a quick, reasoned price picture before a decision or a formal valuation is made.
↻ switches automatically
Example scenario
Example: a 120/100 m² house near BSD City
An appraiser is preparing a site visit.
- 1ValoraInitial value of Rp 1.75 B and 5 comparable listings
- 2ValoraValue drivers point to what needs checking
- 3HumanSite visit: condition, access, surroundings
- 4HumanFormal valuation report under the standards
A more focused site visit; the decision stays with the appraiser.
Still needed: site inspection, transaction data and a report under valuation standards
From data to estimate
Follow ten short steps: how the model was built, then how it values a house.
Step 1 of 10
Collecting examples
A model learns from examples. We used 3,553 house listings from Rumah123 across nine cities in Greater Jakarta, each with its price, size, rooms and location.
Manual valuation vs Valora
Valora complements a manual valuation rather than replacing it. Each has different strengths.
How fast, and what does it cover?
Both approaches run side by side. Watch the time, then what each one actually checks.
Valora
…
- Enter house details
- Model calculates
- Result and comparables
Manual valuation
…
- Schedule and site visit
- Check legal documents
- Find comparable data
- Write formal report
What gets checked
Fast doesn't mean complete. That's why Valora is used before, not instead of, a manual valuation.
- TimeManualUsually several days, including a site visitValoraA few seconds
- BasisManualPhysical inspection, transaction data and legal documentsValoraPatterns from 3,352 asking prices and location features
- Condition and legal statusManualChecked in personValoraNot checked
- ConsistencyManualDepends on the appraiser's experienceValoraThe same input always gives the same result
- ExplanationManualIn the valuation reportValoraValue drivers and comparables shown automatically
- Legal standingManualOfficial report usable for transactions and collateralValoraNot an official report
- Best forManualFinal decisions: sales, collateral, disputesValoraEarly screening, quick comparisons, preparing a site visit
Where Valora stands today
Valora is a final-year research prototype. Its average miss is about 20% of the asking price: enough for an initial picture, but not yet enough for binding decisions.
What it needs before wider use
- Today: research prototype
- 1Real, recent transaction prices, not only advertised asking prices
- 2Regular data and model updates to follow market movements
- 3More precise house coordinates and wider area coverage
- 4Higher accuracy, especially for Jakarta and high-end homes
- 5Validation with professional appraisers and alignment with valuation standards and regulations
- ✓Ready for wider use
Accuracy on 685 test houses
How we measured this →- Mean error (MAPE)
- Median error
- Within 20%
- R²