An Empirical Study Of Residential Real Estate Prices Affect Nanchang

The real estate industry of china that has a high correlation with other industries and leadsnational economy is developing to perfect in the decades. But if not settle the issues which areconstantly exposed in the course of industrial development, it will would seriously affect theentire industry, and even the development of the national economy.Formation of the price of commercial housing was mainly affected by the relative scarcity ofsupply of residential utility, residential and residential needs most at the moment is rigid outcomeof the interaction between these three areas of influence.We can understand that way: residentialutility depends on how people lived in the house can get the statisfaction on material and spirit.However useful substances are not necessarily value. When the objects on this substance in theoutside world has a lot of needs or a huge purchasing power,and it is also relatively scarceresources, it can deliver value that can be shown on price behavior. So commercial residentialbuilding is precisely the object.This paper firstly analyze the influences factors of Nanchang city housing price theoretically,then analyze qualitatively the impact on Nanchang housing price based on supply and demand.Selecting GDP, urban residents ’ income, population, sales area, prices for land transactions, realestate development investment as explanatory variables and price of commercial housing inNanchang city as explained variable to establish multiple linear regression model. Subsequentlyextract explanatory variables which have significant influence on Nanchang housing price bystepwise regression analysis. And bring these main factors into VAR model to research influencedegree. In the end, the paper makes a conclusion based on the results, give recommendations tocontrol over the price of commercial housing and the relevant government policies andregulation.