Study On The Method To Reckoning Land's Price Under The System Of Land Tender, Auction And Listing

Chinese land tenure has been reformed for many times since the foundation of China, but the core of reformation is to reform the way of land leasing which is actually from the gratuitous utility of land to the paid leasing of the right of land usage, then achieves the marketability of leasing the right of land usage. But this reform process is following alone with the Chinese economic system transforming from planned economy to market economy.According to the time of reformation to the way of land leasing, it can be divided into three stages: (1). After foundation of China to the end of 70's, China took planned economy as the leadership. The land was basically for gratuitous utility and could not present the price of land. (2) From the beginning of 80's to 2001, land's gratuitous utility changed to the paid leasing of the right of land usage, so that the land's usage and the market got connection. The way of land leasing mainly included: Agreement, auction and tender. However, because the management of land sale was not so strict that the managerial land mostly sold by agreement. But the sale price of land leasing by agreement was generally somewhat low that caused a hemorrhage of state property. (3) From 2002 up to the present, the way of land leasing has transferred selling by agreement primarily for tender, auction, listing, and has cancelled the way of agreement to sell the land, caused the land leasing coming into marketability, open and vitrification thoroughly.The transformation of land leasing causes the land's price changed. Meanwhile the reckoning method of land price correspondingly has changed. This research's goal is to work out reasonable and feasible land price reckoning method with the new tenure of land leasing, under the view of real estate developer.This research is based on Marx's land-tax theory:"The price of land product decides the land-tax", followed the principle of marketability of land leasing and decided by present land product - commercial housing price to reckon land's price. The concrete reckoning process is, before obtaining the land, first to forecast the sale price of intending land product (commercial housing), second to estimate reality development cost, then to confirm the lowest benefit level and the highest land price which is agreed to the enterprise, finally on the basis of the highest land price and according to certain...