An Empirical Analysis On The Influencing Factors Of The Chongqing's Real Estate Price

As one of pillar industries,the stability of estate development is related to the peopl -e, s livelyhood.Since the year of 1998,the teal estate industry has esperienced a perod of rapid development.as the real estate industry chain length, linking large, so the development of a city's real estate construction in the city plays a vital role.The level of real estate price affect real estate development, and therefore, the academic community in Beijing, Shanghai and other cities works very much related to housing prices, but specializing in real estate prices in Chongqing is not much in the article.Since 2005, housing prices inChongqing have also growon lagely, and the real estate prices reached a climax 3~10,2007. At the same time, the real estate prices run high in Chongqing, so,studying factors that influence real estate prices is particularly important factors.This paper summarizes home and abroad on the theory of the real estate market, and introduce some basic knowledge of real estate prices, and real estate prices,s features, and from the qualitative point of view that the impact of factors of real estate prices,including: real estate development investment, policy factors, cost factors, income levels, real estate prices, macroeconomic policy, population and family structure, consumer expectations, and these factors are classified as a specific demand factors, supply factors and other factors .Then, to discusses the development of the real estate market,s situation and the real estate market problems in Chongqing.This paper,s focus is that drawing on many previous studies based on comprehensive research and empirical analysis method, analysis of the mechanism of real estate prices, at the same time,touse the panel data of Chongqing City real estate,s price for crrelation analysis from 2003 to 2009. To alysis acorrd to built a econometric model.the results show that among the factors easy for quantify,the impact of housing on the city level from high to low as follows:Land prices, the average wage, GDP, balance of loans of finanial institutions, per capita disposable income, real estate investment, housing completion of the area, 3-5-year lending rate, building materials prices. Construction of the regression equation shows:pices and land prices in Chongqing in the same direction change, land transactions price index increased by 1, will affect housing sales price index of Chongqing average increase of 0.944.Finally, the paper based on the previous findings, the policy recommendations of real estate prices.But also to investors and management in the real estate market, real estate investment activities in the supervision and regulation advice.