Research On The Vacancy Control Of New Housing Housing In

Sanya, as a key city of Hainan international tourism island, has made a great progress by leaps and bounds in its real estate industry. As Sanya topped the national list of property price rise in 2010, its residential commercial real estate market has been booming with a rapid growth in both amount and price. In 2013 Sanya became most expensive city in China. In the process of national real estate macroeconomic regulation and control, house price of Sanya has fallen, but the residential commercial real estate was still hovering around 20000 Yuan per square meter in 2015, and the problem of excess inventory and high vacancy rate in residential property existed at the same time. Therefore, the author makes an in-depth analysis and research on the market of newly-built residence in Sanya, applying the basic quantitative methods to a policy analysis in the context of the municipal regulations on vacant apartments.First of all, the author analyzed the present supply and demand situation of new residential property. The author chose three indicators, the proportion of real estate development investment in fixed assets investment, the proportion of the added value of real estate in GDP, and the proportion of Sanya’s sale of floor space in the completed floor space, to carry out a quantitative analysis of Sanya’s real estate industry development. It can be seen that three indicators in Sanya are significantly deviate from the ideal goal ratio used in foreign developed countries, and the real estate industry does not go well with the regional economic development for its exessively important role in its economy.Secondly, in order to find out the cause of new residential property vacancy in Sanya, the author has established the multivariate regression analysis model of new residential property vacancy. Then the data from the second quarter of 2009 to the third quarter of 2014 was analyzed through Eviews7.0 software. Finally, it was concluded that poor sales performance is the main reason for the high vacancy rate of new residential property, and Sanya’s residential property restrictions also helped to exacerbate the imbalance between demand and supply of housing.Finally, the author conducts a research on why macro adjustment and control falls short from the perspective of public administration and public policies, holding that the main reasons of the coexistence of demand increase and sales difficultyinclude: changes of economic trend; the influence of purchase restriction polices and government behavior; the clash between policy unity and regional economic difference(the deeper reason); the science of some policies needs discussion; and the failure of executing some policies due to difference in interests between central government and local governments. In face of these problems, the author thinks the high vacancy rate in new residential property in Sanya should be settled by both short-term and long-term policies. In short-term policies, the government should loosen the limit for purchasing and credit policy, expand the market demand, attract buyers with convenient financial policy and loan terms, plan the supply of land based on demand, and avoid short-term oversupply. In the long run, it should speed up the urbanization and infrastructure construction, improve the ability of the local population to consume inventory, perfect policy evaluation system, implement and strengthen the supervision mechanism of policy execution, and change the incorrect view of political achievements of local government officials.