| In recent years, the real estate market prosperity, housing prices rise rapidly. Housing prices make consumers hard to bear. This issue so serious that acquire great concern from the central, down to ordinary people.While the room prices climbing, urban land prices are rising. Land is the basis of real estate development, real estate can not exist independently from the land, land and real estate markets have indirectly relations. The study of interaction mechanism between urban land prices and real estate value will help maintain the real estate market order, promoting the sustained and healthy development of real estate market,.This article mainly uses the commercial housing price as reprehensive to real estate market value; the price of commercial housing construction site refers to land price. The data comes from National Bureau of Statistics, "China Economic Report", housing transactions price index and land transactions price index.This study covers the following areas:(1)Analysis of real estate market(2) The interaction of housing price and land price(3) Analysis and empirical test of Tianjin real estate marketThe method in this paper were theoretical analysis and empirical analysis through analysis of the commercial housing prices and land prices,studying interaction mechanism between urban land prices and real estate market value, using Granger causality test to exam the interaction mechanism between the real estate value and land prices. Finally the conclusion:land prices and property prices have weak interaction in the short term in Tianjin real estate market, but in the long term, high prices lead to high land prices through induced demand, high land prices have a certain degree of impaction on high property prices, but not a major factor. |
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