| The real estate industry can stimulate economic growth effectively, so it is veryimportant to government revenue. However, due to real estate market started too lateand the development time was short of real estate in China, the relevant laws andregulations are not perfect, the real estate market is not mature. Rapid house pricegrowth rate, the price earnings ratio is too high, the real estate market supply anddemand imbalance are factors affected healthy and sustainable development ofChina’s real estate market. Therefore, researching real estate market of China toprovide a response is necessary to promote the healthy development of the realestate market.As economically strong province and populated province of China, the realestate market of Shandong province is representative. Since the implementation ofthe housing reform policy in 1998, the real estate market laws and regulationscontinue to be improved, the real estate market of Shandong province has madegreat progress. From the development of Shandong province, Jinan and Qingdao aretwo representative cities. Qingdao city is the eastern coastal city of Shandongprovince, which opened earlier, with the superior location and beautiful environment,the development of the real estate market started earlier and has coastalcharacteristic. Jinan city, as the capital city, transportation and cultural center, thepolitical center, has a better political and regulatory environment in developing realestate market. Jinan city is an old city the development process of the real estatemarket can be a microcosm of the old town real estate market development process.At the same time, Jinan city and Qingdao city are the two highest cities in economicdevelopment of Shandong province, and they have a high level development of thereal estate market, to research the real estate market of the two cities can provide thetheory of countermeasures to develop the real estate market of the lower level.In the writing process, first described the research background, significance,research status, and research methods, and then explained the real estate markettheory, focusing on the theory of supply and demand and non-equilibrium ofregional development. Secondly, described the development environment of real estate market in two cities and then analyzed the comprehensive level of the realestate market of Jinan city and Qingdao city, the analysis showed that lower prices inJinan city, lower price earnings ratio, the strong real estate demand, lower levels ofeconomic development but at the same time the urban disposable income high. Butthe house price, the price earnings ratio, the level of economic development, are allhigher in Qingdao city, the price earnings ratio has become a constraining factor ofthe Qingdao city real estate market healthy development. According to the priceearnings ratio as defined to calculate the price earnings ratio of Qingdao city in 2007it up to13.508, far exceeding international standards, again, constructed thecomprehensive development level evaluation system of the real estate market. Basedon the China Real Estate Statistics Yearbook, Shandong Statistical Yearbook relevantdata, combined principal component analysis and SWOT analysis to researchJinan city and Qingdao city real estate market development level, The resultsshowed that: the level of real estate market development of Qingdao city is higher in2001-2009, but there are some negative factors on the real estate market in Qingdaocity, such as the financing form of real estate investment is single; The 2001-2009composite scores of Jinan city and Qingdao city real estate market are volatilityincreased, indicating that the real estate market of the two cities are good prospectsfor development. Finally, adopted the results of principal component analysis andSWOT analysis to put forward the targeted proposed to promote the real estatemarket development of Jinan city and Qingdao city. |
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