The Region Difference Analysis Of Long And Short Term Real Estte Prices Fluctuation In China

This paper discussed the fluctuation difference of long and short term Real Estate prices in different region and analyzed the fators, which based on the panel data model and error correction model, through the panel data in35cities from1999to2009. The empirical results follows:From the long term trend, population desity has a greater effect on the eastern and middle region, but not significant in western region; the effect of disposable income on the western region Real Estate prices is the most strong; psychological expectancy only has a significant effect on the eastern Real Estate prices fluctuation; perfect structure of Real Estate market is conductive to curb housing prices. From the short term trend, consumers’expectancy of Real estate prices varies in different regions, it is rational expectation in east, but adaptive ones in middle and western regions; the effect of disposable income has the greatest effect on the middle and western region Real Estate prices; the effect of interest rate on the long and short term Estate prices fluctuation is not great in any region.