Analisis kelayakan investasi proyek pengembangan Perumahan Kalioerang Residence Yogyakarta

The demand for housing in Sleman Regency continues to increase due to population growth and urbanization, encouraging suburban housing development that requires substantial capital and involves financial risk. This study evaluates the financial feasibility of the Kalioerang Residence housing development project. A quantitative descriptive approach was applied using an eight-year project cash flow model and financial indicators including Net Present Value (NPV), Internal Rate of Return (IRR), Profitability Index (PI), and Payback Period (PP), with a Minimum Attractive Rate of Return (MARR) of 12% per year. Sensitivity analysis was conducted on selling prices, development costs, and sales timing. The results indicate a positive NPV of Rp1.051 billion, an IRR of 15.74%, a PI of 1.114, and a payback period of 3.89 years, all satisfying standard feasibility criteria. It is concluded that the Kalioerang Residence project is financially feasible, provided that cost control, price stability, and effective sales strategies are maintained to sustain profitability.