Research On Urban Infrastructure Effecting Factors Of Housing Price Fluctuation In Shandong Peninsula Urban Agglomeration

Shandong Peninsula urban agglomeration is one of the most dynamic urban agglomerations in China where robust economic development is seen in the last few years. The rapid growth of social economy has spurred the development of real estate especially the housing market. Housing is one of the fundamental material conditions for people'living and most closely related to there welfare. It is also an important component of urban economy as the material reliance in that sense. Therefore, research on effecting factors of housing price fluctuation is of great significance. As cities provide the conditions for housing economic development, the urban infrastructure effecting factors such as urban economy,urban scale and urban growth play decisive roles in housing price fluctuation.Based on theories on urban development and urban economics in the field of regional economics, with relevant knowledge of real estate economics and urban economics,this thesis establishes a panel data model to study the relationship between the housing price changes and urban infrastructure factors in eight major cities of the Shandong Peninsula economic region. The paper firstly outlines the urban economics and housing market development theories to explain the relationship between urban economy and housing market and give analysis of relevant factors effecting housing-price fluctuation. Then the paper defines the scope of urban infrastructure factors and provides a qualitative analysis of the factors'effects on housing-price fluctuation. After that, focusing on eight major cities of Shandong Peninsula, the paper makes an empirical analysis of the relationship between the housing price changes and urban infrastructure factors by means of establishment of panel data model and giving the estimated results and model description of the cities. A comparative analysis of the eight major cities in Shandong Peninsula is also made upon the empirical results in this part from the perspectives of urban economy,urban scale and urban growth. Finally, according to the previous exposition ,countermeasures are suggested to promote the housing markets as well as urban development of the cities in Shandong Peninsula urban agglomeration.