Empirical Analysis Of China's Commodity Housing Supply And Demand, Price Impact Factors

The real estate industry has become an important pillar industry of China after the development in the past decade. The market system improved on and the house-consumption has become a new driving force and hot spot of consumption to expand domestic demand. But in the recent years, the real estate price rose rapidly. In some cities, the house price went up sharply, its rate far exceeded the increasing rate of the overall economy and the increasing rate of goods or service price in other industries. The too-quickly rising trend of house price not only extremely influences city dweller's living conditions but also is an unstable element for the macroeconomics' smooth and sustained development. At the same time, the problem that has aroused universal concerns.There are many factors that have an influence on real estate prices, for instance, the common factors of land-use systems, the housing system, demographic factors, economic development, fiscal and financial policies, the regional factors of road and transportation, urban facilities, environmental conditions, and etc., and the specific factor of the structural characteristics of different buildings. However, influences of these factors on real estate prices differ in the different countries (even in different cities and regions of the same country), different development stages of real estate industry, the size of the impact has shown is not the same. Taking the real estate price (mainly the residential prices) as the study object, primarily analyzes the affecting factors of house price from demand, supply in the current domestic real estate market, which are the main factors that exert important influences on the real estate prices, and which are the minor factors. Furthermore, this paper conducts a qualitative and quantitative empirical research on the real estate price of our country 30 provinces, city, and autonomous region, revealing its inherent running mechanism. Study on factors affecting real estate prices in this thesis mainly consists of the following parts: the first two chapters are mainly summary of and comment on domestic and foreign research results of factors influencing real estate process, as well as major theories in this aspect. Chapter 1 makes a brief introduction to the significance, current domestic and foreign situation of research of factors influencing real estate prices, and it summarizes the research methods and thoughts. Chapter 2 elaborates on main theories of real estate prices influencing factors at home. Next, has analyzed our country real estate market development, this part of content constitutes by the chapter 3. Once more, affects the housing price from the supply and demand stratification by the chapter 4, through the real diagnosis analysis, we obtain the urban population scale and the household income level are the municipal housing price level major effect factor. Moreover from the short-term looked (within a year) between the house price and the soil-rent value is the relations which mutually affects, but in long-term in, because the soil-rent value is affects the house price a factor, but the house price actually can directly affect the soil-rent value fluctuation, between the house price and the soil-rent value only has the relations which mutually affects, certainly cannot determine is who affects anyone. Finally for this article conclusion and the forecast part, summarized the research results and shortcomings of this paper, and makes a forecast to the future research direction.