Xiamen Commercial Residential Market And Policy Study

After 25 years' development,Chinese real estate industry has walked through from Planned Economy to Market Economy step by step,following the rule of Market Economy periodic operation.As one of the most important industries which is supporting national economy,real estate industry efficiently boosts China's economy. Thus,it is valuable for research and practice.It is necessary to study real estate market from the angle of pricing principle and supply-demand relationship.With the process of urbanization,the city population grows and the needs to invest increases.The valid market need steadily rose on the foundation of national economy growth and income increase.Although land supply and residential construction went up,for the affect of supply lagging and the excess of market demand,Xiamen residential market,to some extent,had been unreasonable and unstable in recent years.From 2004 to 2008,Xiamen commercial residential housing has been grown with rate of 146 percent;the price has incresed 210 percent; the real wstate market investment has increased 436 percent.However,compared to 2007,Xiamen commercial residential housing volume declined 66 percent in 2008. Only when steady land supply and macro-economic policies with sense of foreseeing which is adjusted to future market needs,are put into use,the real estate market could develop in a healthier and steadier manner.Throughout the macroeconomic control policy from 2004 to 2008,it has been transformed from strictly controlling land leasing to suppressing speculation to restaining market demands.Its focus has successively changed from taking temporary solution to taking permanent solution,which is adjusting the contradiction between supply and demand of real estate market.However,due to the posteriority and accumulation of macroeconomic control policies,supply and demand disequilibrium has led to drastic fluctuations in Chinese real estate market.This dissertation focuses on Xiamen,on which real estate industry has early and speedily developed and the real estate market has been cultivated comparatively mature.It is based on the supply-demand relationship theory,retrospecting and analyzing the supply-demand relationship of Xiamen real estate market from 2004 to 2008;summarizing and evaluating the utility and problems of Chinese state macro-control policies from central to a regional government since 2004.At the same time,it predicts the trend of Xiamen real estate market and the variation of its supply-demand relationship.Then it tables a proposal of relatively policies.Accordingly,supply-demand relationship is the fundamental relationship of real estate market.To estabilsh a healthy and stable real estate market needs to estabilsh relatively steady supply-demand relationship firstly.Chinese real estate market demands stable market circumstances which is established on basically balanced supply-demand relationship.At the same time,the stable market circumstances needs the supoort of stable administrative policies.