Apartments have become an alternative place to live in Surabaya that is quitestrategic for the business community, especially for expatriates who live here aswell as our native business people. Apartment buildings have also grown in numberalthough the rate of accupancy itself has yet to reach 100 %. The requirementsneeded for apartment to be a place to live are more or less the same as thoseneeded for housing complex in general. Nevertheless, the main difference is thefacilities readily available in apartement building, such as a spacious parkingarea, a fully equipped gymnasium, a swimming pool, and also other sports facilities.Moreover, what we do not normally find in a housing complex is the availability ofsecurity and sanitary services for every room there.This research is aimed at examining the infuence of service quality as well asperceived value of consumers, or in this case the occupants of the apartment, overtheir satisfaction and loyalty. The respondents being analyzed are the occupantsof nine apartments located in Surabaya. The tool used for analyzing is the StructureEquation Modeling (SEM) obtained through the software AMOS 3.6. To sum up,the result of the hypothetical analyzes shows that: (1) service quality as well asperceived value have an influence over the satisfaction felt by occupants ofapartments in the Surabaya area; (2) service quality has influence over theperceived value; (3) satisfaction has no influence over loyalty felt by occupants;(4) service quality as well as perceived value have no influence over loyalty feltby occupants, both direct and indirect as seen through satisfaction as the interveningvariable.The lack of influence that satisfaction has over loyalty can be explained as agrowing phenomenon. This phenomenon sees the tendency for both purchaserand occupants of apartment to choose apartement as their place of living (andnot as an investment), and also the availability of guarantee for their privacy.Key Words: service quality, perceived value, satisfaction, loyalty, and apartment