The purpose of this study is to examine the effect of voluntary disclosure, company size, financial leverage and information asymmetry on the cost of equity capital in property and real estate companies listed on the Indonesia Stock Exchange in 2016-2019. The sample selection in this study was done by purposive sampling. Based on the criteria, a sample of 140 companies was obtained. Data analysis techniques used in this study are descriptive statistics, classical assumption test, multiple regression analysis, and hypothesis testing. The results of the analysis show that voluntary disclosure has a positive effect on the cost of equity capital, firm size has a positive effect on the cost of equity capital, financial leverage has a positive effect on the cost of equity capital. and information asymmetry has a positive effect on the cost of equity capital.