Macro-control Policies On The Impact Of Price Fluctuations In China

Real estate market is a pillar of domestic economy and an important part. With the rapid development of establishment a moderately prosperous society, the development of urbanization, the real estate development and sales increased significantly, and to study the real estate prices have gradually become more significant. The real estate market, similar like other commodity markets, has been influenced by the domestic and abroad environment, natural disasters and other factors. Chinese government has enhanced the macro-control of real estate management, and these policies are displayed a certain role. However, effects of these policies are limited, because the policies are not based on a permanent mechanism.This thesis based on the current economic situation. To take Xi'an for an example, to use the relationship between macroeconomic policies and real estate prices as a research object and the econometric time series model as a study method to systematic analysis the situation of real estate market. Firstly, based on the aspects of related macroeconomic policy and real estate prices, summarized the major macroeconomic factors that impact the real estate prices of Xi'an. Secondly, current situation of the real estate market in Xi'an has been qualitative analyzed the impact of macro-control on its prices. Finally, a time series model has been built to reflect the real estate prices macroeconomic factors in Xi'an, and has quantitative analyzed the impact of macro-control on its prices. Through the model analysis, the loan interest rate, per capita income and sales area are three factors that influence the real estate prices. In Xi'an, sales area is a major factor in the real estate prices. In other words, the rationalization of supply and demand structure is an important aspect to use for adjustment the real estate market.This thesis analyzed the real estate market of Xi'an from the perspective of theoretical and empirical macro-control. Referred to the econometric model, concluded that the major factor in real estate prices is relied on the supply of real estate production. The government should focus on increasing the supply of real estate goods and to provide the relevant preferential policies, such as level control and management of real estate markets (land market), regulation of real estate of the secondary and tertiary markets, improve and develop basic housing security system to increase the low-rent housing and the supply of affordable housing. These advices could be referenced to the Xi'an government to adjust the real estate prices. These should have some certain practical significance.