Research On The Relationship Between Real Estate Development And Economic Growth Of Zhejiang Province

Real estate industry has a close relationship with the national economy. The level of national economic development determine the level of development of the real estate industry, real estate development also promote the development of national economy at the same time. As the pillar industry in national economy, real estate plays a central role in urban economic development. Therefore, study of the relationship between economic growth and real estate development of our country has important effect for us to understand the impacts which real estate has on the national economic growth and the influence which the national economic growth has on the development of real estate.First of all, this paper descriptively analyses the level of development of the real estate market in Zhejiang province; Then, this paper has initial and in-depth studies on the relationship between real estate development with economic growth in Zhejiang province; Finally, this paper studies the relationship between real estate investment and other factors with economic growth in Zhejiang province. The results show that:1. The development of the real estate market can broadly divids into three stages in the sample period; 2. Long-term stability positive correlation exists between the development of real estate with economic growth in Zhejiang province. The development of real estate significantly contributes to economic growth, economic growth also contributes to the development of real estate, but the effects are not so obvious; 3. Zhejiang's economic growth is more influenced by the long-term impacts of real estate development, real estate development's long-term impacts on the economic growth are greater than the short-term impacts on the economic growth; 4. The factors which the real estate industry promotes economic growth can be divided into three echelons base on their size; 5. The real estate development has promotion on the economic growth in Zhejiang province. This promotion depends on the price increase too much; 6. The real estate investment's impacts on economic growth are less than the consumption and net exports'.