Real Estate Prices In China And Empirical Analysis Of Factors

Since the currency reform of housing in July 1998,the public housing allocation system that is unified management,unified allocation and rent on housing put over in china. After ten years of development, real estate is the pillar industry of China's national economy, the economic development of our country plays a key role. Commercial and residential growth and has become an important factor in stimulating domestic demand. But in recent years, China's housing prices soaring, the price rises far beyond the local level of economic growth.In this paper, the real estate situation in China in recent years, from the real estate market supply and demand factors discussed changes in the prices of real estate, the use of quantitative analysis methods and tools, real estate price changes on an empirical study.This article is divided into five parts. The first part is an introduction. Introduced the topics of the background, significance and literature review.The second part is on real estate prices and the factors analyzed in depth. Introduced a model of demand and supply,From the two levels of demand and supply of real estate prices introduced factors.The third part is about China's real estate development process and the current status of the real estate market and the main problem.The fourth part describes the analysis of the situation in China real estate prices.The fifth part is the empirical part of this article. In this paper, the model of the real estate demand and supply analysis based on the theories and models using econometric and statistical software EViews5.0, concluded:urban population, real estate sales, per capita disposable income, land, money supply, consumer by price index, interest rate and monetary and financial scale of the urban housing price level and other main factors, in the short term, premium price is not Granger cause, while the land is for housing prices Granger. The long term, house prices and land prices for each other Granger.Therefore, in the empirical analysis, based on the policy recommendations put forward the corresponding real estate, real estate things can be done to promote the healthy and stable development.