Demographic Factors Affect Housing Prices In Beijing

In recent years, several abnormal phenomena appeared in many cities in China, such as over high housing price and the popularity of speculations. How to solve the housing problem for 1.3 billion Chinese people with very limited land resource has become a significant strategy issue which related to the national economy and the people's livelihood, and also the overall modernization. House or residence is the only direct support for human habitation and basic living needs, in some ways population is one of the important factors affecting the housing prices directly and veritably. This paper, based on the conclusion of previous studies, pays further attention to the demographic factors' influences on housing prices, such as the population scale, population density, population quality, age structure, number of households, migration etc. In this paper Beijing was selected for the objective of analysis, and then the author collected related data to build up the linear model of housing prices research. SPSS and stepwise regression analysis were applied to the quantitative analysis for demographic factors' affects on housing prices of Beijing.Through regression analysis, the author found that, after controlling the general socioeconomic factors, four demographic factors are tightly related to the housing prices in Beijing: the average population education level, the number of households for non-agricultural residents, the temporary migration and the population density. Thus the author concludes that the education level of population has a significant decisive affect on the housing prices, residential houses are mainly purchased by families, so the family buying would become a more significant affect, in some parts of Beijing, the total population has a negative effect on the housing prices, in certain period of the future, the demographic factors will continue to promote the housing prices in Beijing.