Study Of Factors Influencing The House Price

Since Chinese welfare housing policy was cancelled in 1998, house investment and house sales are increasing annually. Now the house industry has stepped into a key period of fast development. With the climbing of housing price, some problems appear. For examples, the relation of supply-demand turns tense, the structure of house supply isn't reasonable and the increasing speed of housing sales is too fast. Even worse, some symptom of real estate bubbles appears in some cities. In a short time, it is discussed and concerned that how the housing price come into being and what influence and decide the housing price. However, have been sticked in the unspecific qualitative analysis or the investigation on the single-factorial effect, which lacks in the multi-factorial quantitative analysis and demonstration, and credible analysis tools and model stimulations, so it is hard to know to which factors the housing price is sensitive and how deep the factors will impress. In this thesis useful attempts were made to these questions.The following six points are mainly studied in this thesis. First, analysis on the housing prices in China was made from the angles of demand and supply; the exploration of the theory of housing prices was conducted. Second, positive analysis to the single factors, including nature, policy, economy, society and so on that affect the housing price, was made. Third, multi-variate linear model of quantitative economics and demonstration for housing prices was established based on the data (the purchasing amount of land, completed acreages of house, the main cost, the price of land, the number of inhabitants, the urbanization level, GDP per capita, per capita disposable income) on real estate market in Beijing, Shanghai, Shenzhen, Nanjing, Chengdu, Dalian from 1998 to 2006. The results show that per capita disposable income, the price of land, the main cost, completed acreages of house, and the purchasing amount of land affect the urban housing prices remarkably. Last, useful suggestions were made to the macro-control of housing price.