Empirical Analysis Of Affecting Factors Of Housing Prices In Chongqing

The development of residential market are both the controversial problem in the society and the key point about the national economy and the people's livelihood. Since 1998, the reform of housing market has promoted the development of real estate market, especially the housing market, making it the support of national economy. But in recent years, there comes the soar of housing price, waste of land resource, and the increase of financial risk may cause a financial crisis. In the current residential market a lot of controversial circumstances, the impact of commodity price factors residential research is to solve the current problem of the real estate market as the basis for a series of studies on the impact of China's urban housing prices more study on the factors that have their theories and the practical significance.Based on the analysis of the domestic and international researches, we tried to look for the impact factors of commercial housing price, including supply factors, demand factors, and supply-and-demand factors. And then, the theory models based on these impact factors and econometric models based on the error correction model (ECM) were built up. By the demonstration analysis of the real estate market of Chongqing Municipality from 2001 to 2006, we got the dynamic effects Conclusion of all factors affecting on the prices: From a long-term perspective, Chongqing's housing prices are from the supply and the demand side driven, relative to said that the supply factors play a more prominent role, to effectively inhibit the real estate market prices rise, we have a good solution is to increase the supply, making housing prices in the supply and demand of natural adjustment of the downlink. In the short term, changes in the prices of housing is a more stable long-term trends and short-term fluctuations decision, finally some policy suggestions were proposed to control the soar of housing price, such as supply-and-demand policy, housing finance, land policy and tax policy. There are two creative aspects in this paper: First, a more comprehensive consideration of the impact on domestic prices of the commodity supply and demand factors and various macro and policy factors, covering all aspects of factors affecting the construction of a complete theoretical framework; Second, the ECM method was used to analyze the effect of the price of housing factors taken into account the interaction; The third is to identify the changes in residential property prices in Chongqing Municipality characteristics, and the establishment of a model to predict.