Urban Housing Tenure Influencing Factors Research

Since 1960s, with the development of real estate market abroad, researchers have found that it is necessary to study the affecting factors of housing tenure choice. Till 1980s, the research has been wider and deeper than before. And the results offer academic groundwork to this study. While due to the difference between China and other counties the results shouldnot be applied to china directly. As a matured industry in many counties, the real estate industry in China is still a newly emerged industry. But over a decade Chinese real estate market has grown up rapidly since housing reform was carried out in urban China. Most of Chinese urban residents began to choose the housing tenure patterns in market. However, the researches aimed at China about the affecting factors of housing tenure choice cannot reflect current market status. In this academic and real context, the paper studies the affecting factors of housing tenure choice in current urban china based on the investigation of Hangzhou city.Combining literatures reading and the realistic of urban china, the paper gives the main affecting factors of housing tenure choice. Several decade urban residents were interviewed in this research process, and 475 questionnaires were finished in Hangzhou. Besides the thesis uses 553 questionnaires of 2003 from the center of real estate study, Zhejiang University. SPSS 11.5 software is used to do Logit model and ANOVA by using two years investigated data. The main conclusions and innovations of the thesis are as follows:(1) To design affecting factors of hosing tenure choice of 2003 and 2005 respectively, including choosing to buy or rent or to invest or not. Through empirical analysis, we can find some changes and the tendency of the affecting factors. As to buy or rent, family income and demographic (gender, age, family size) factors can explain differences in different choice in two years. Mealwhile the influence of registered permanent residence (called in Chinese "hukou") and work site on the choice of buying or renting is lower than before. When facing to the choice of investing or not, family economic factors (income, capital assets), demographic factors (martial status, age, family type) and the former housing system in China play a leading role. Besides consumers who come from other places are more inclined to invest in housing.(2) The empirical analysis result also shows the percent of owning housing for living in 2003 is higher than that in 2005, however, the percent of owning housing forinvesting in 2003 is lower than that in 2005. The result indicates the gap of housing number that different kinds of family hold be more and more large. Though macro-control in 2005 has hold the increasing of new investors, primary investors still observe the situation and retain a number of housing so as to avoid the loss.This paper can help related departments and companies to realize the affecting factors of residents' housing tenure choice, and also can provide them some references to constitute related policies. But there are some defects in this paper. The future study can be targeted at such aspects as the optimization of the selection and quantization of the factors, the rate of different type of sample, increasing the number of sample. Besides future study maybe use Probit model to analysis.