Property Right's Variety And Transaction Method's Effect Towards Its Transaction Efficiency

Property market was originated from China's first shareholding reform in the late 80's which turned out to be a special market in the reform process. The total transaction volumes of property rights in recent years maintained a rising momentum. However, the existing variety of property rights and transaction method has been unable to meet the needs of property market's development which result in some problems. The market is lack of liquidity, participants are limited and transferees are restrained to a narrow range. All of these issues have seriously hindered the improvement of property rights'transaction efficiency. As a result, this paper try to analyze property right's variety and transaction method's effect towards its transaction efficiency and put forward recommendations in order to promote transaction efficiency.The core part of this paper focus on the effect of property right's variety and transaction method towards transaction efficiency. Firstly, through theoretical research, the paper points out that standard property rights'variety tends to be more efficient than non-standard variety. And compared with negotiating, the transaction method of biding will improve the efficiency of property rights transactions. Secondly, through empirical research, this paper gets the important conclusions of property right's variety and transaction method's effect towards premium rate, cost rate and time cost. The analysis reveals that the increase of premium rates depend largely on the existence of standard property rights'variety and choose of bidding method, the reduction of cost rate and time cost mainly depend on the existence of non-standard variety and standard variety respectively. Thereby, the most effective and viable option to increase transaction efficiency is to standardize the property rights through technical operations and choose bidding as the transaction method in order to enhance its premium rate and reduce time cost. Finally, on the basis of theoretical and empirical analysis mentioned above, the paper put forward recommendations on the promotion of transaction efficiency according to the current situation of china's property market.