Influential Factors On Price Of Urban Commercial House In China

The real estate industry has become an important pillar industry of China after the development in the past decade. The market system improved on and the house-consumption has become a new driving force and hot spot of consumption to expand domestic demand. But in recent years, the commercial house price rose rapidly. In some cities, the house price went up sharply. Its rate far exceeded the increasing rate of the overall economy and the increasing rate of goods and service price in other industries. The too-quickly rising trend of house price not only extremely influences city dweller's living conditions but also is an unstable element for the macroeconomics' smooth and sustained development. At the same time, the problem of house price has become an economic as well as a social problem that has aroused universal concerns.This paper starts from the related theories of real estate, primarily analyzes the affecting factors of house price form demand, supply, finance, macroscopic readjustment and control and other aspects. It is based on econometric and statistic theories and applies practical analysis methods to the research. First, it analyzes the influence of the demand factors, it indicates that the expanding of the demand which caused by the reform of urban housing system, the increase of citizens' disposable income and people is the chief reason for the rise of house price. Second, it analyzes the relations between house price and the supply factors which embrace the cost of house-building, land price and etc. Subsequently, it takes Beijing, Shanghai and Shenzhen for instance and analyzes the relationship between house price and land price. Third, based on the study of the fund resources and composing of the real estate investment, it analyzes the importance of real estate finance and shows that the long-term low interests and the individual credit has pushed the ascend of house price. Last, it retrospects the macroscopic control policies in recent years and its actual effects in order to put forward the innovative approaches.