Empirical Analysis About The Status Of The Real Estate In Beijing

The real estate industry has been a hot topic of discussion within scholars. Recently the property-purchasing limitation and price control policies attract the concern of the community in the real estate industry. Based on the industrial economics theories on the choice of the pillar industries, selected from the five aspects, the industry association, income elasticity of demand, technological progress, industrial scale and benefits, employment promotion, this paper chose11indicators and collected and sorted out the index value corresponding to the Statistical Yearbook of Beijing1996to2011. This thesis made a comprehensive evaluation of the economic status of the real estate industry in Beijing by using of factor analysis and found that in Beijing the real estate industry ranked third in the34industries. The industry association coefficient of various industrial sectors was calculated by using the hypothetical extraction method. Respectively, by using the generalized Cobb-Douglas function model and the economic growth and employment in the non-linear model, combined the regression analysis, the rate of technological progress and output elasticity of employment were calculated. Through the analysis of indicator data, this paper found that the Beijing real estate industry displayed poorly at industry related degree and technological progress, but good at state-sponsored tax. Therefore, on the whole the real estate industry in Beijing is still a pillar of industry. In conclusion, the writer suggested the government to promote price control policy steadily, further optimize and upgrade of industrial structure, and promote the development of the potential pillar industries sector.