An Empirical Research On Relationship Among Land Transfer Mode,Transfer Income And Housing Price

Recently the real estate market obtained the rapid development,with China’s sustained and rapid economic growth, accelerating the process of urbanization and residents’ income level increased steadily. The development of the real estate market meets some residents’living demand,improved the living conditions of residents and changed the urban appearance.Also the development of the real estate market has made a great contribution for China’s urban construction and economic growth. However, many achievements have been obtained at the same time, there are also many problems, especially in the process of the sustainable development of the real estate market, real estate prices are rising, and the high housing prices in some cities has been far beyond residents’ ability to pay. In March2004, the ministry of land and resources, ministry of supervision jointly issued the "71", request since August31,2004, all the land shall be operating to public bidding. As the land system reform continued to deepen,makes market selling land value got fully manifested, coupled with the monopoly of the land market supply and competitive demand factors,China’s urban land price rising. According to data from the2010national land grant fee income total reached2.7464479115trillion yuan, the price rose70.4%. Land is the basis of the property of materials.The change of the land transfer mode, transfer income rising and house prices rising whether there is a relationship became the focus of academic circles.In reference on the basis of predecessors’ research, this study construct theoretical analysis framework, using the panel data of31provinces, cities and autonomous regions of land transfer mode, transfer income and housing prices were analyzed, and the relationship between gives Suggestions for the healthy development of the real estate market.In this paper, the research content mainly includes:(1) to review and reference. Through combing theoretical knowledge related to land prices, as the study lay a solid theoretical foundation;(2) the theoretical analysis. Mainly from the market demand and supply to discuss the general factors that affect house prices and their impact mechanism, and then hang on and transfer mode of land price formation mechanism for analysis, and discuss transfer income under different ways of land transfer;(3) the present situation of the real estate market, land transfer operation. Judge the relationship among the land transfer mode, transfer income and house prices;(4) using the econometric analysis method to empirical analyze the relationship among land transfer mode, transfer income and house prices;(5) on the basis of the combination of theoretical research and empirical research put forward policy suggestions.The basic conclusion of this study are:1. In this paper, by constructing the real estate market equilibrium model, it is concluded that the land transfer price of "action" or agreement transfer formation is higher, the housing prices will be higher;the "action" or agreement for the land area of the higher the ratio, the housing prices will be higher;2. In this paper, by using of the31provinces, cities and autonomous regions (2003-2010) data to construct panel data model, the mode of land transfer, transfer income and housing prices has carried on the empirical research on the relationship between. This paper is focused on the marketization of land transfer system, namely "bidding auction",effect on the prices. Results show that:(1) the land transfer mode, transfer income and housing prices has significant positive correlation in the sample interval, which is as the "bidding auction" way to transfer the increase the proportion of land area and of land transfer income, housing prices will therefore continue to sour. It verifies the theoretical model for land transfer mode to set the symbol of the impact on prices. At the same time, the land transfer mode, transfer income to positive effect between the regional house prices do not differ significantly.(2) according to elastic analysis, it can be seen that both the overall and the east to the west, the influence of supply and demand of house prices also not allow to ignore.The main policy recommendations are as follows:1. We must adjust the relationship between the central and local finance rights, to solve local governments depend on "land finance". Financially, appropriate to some taxes to local, solve the bottleneck problem of local government spending. If we don’t solve this problem, the government will cannot get out of "low land requisition, demolition, flat to stock up, wait until the price rise up again, then selling land and low land requisition for" this vicious cycle, and in the regulations of the state, the right to use construction land land fees collection standard increase, the cost is likely to be passed on to costumers, as to promote housing prices continue to rise.2. Activate the development of the urban stock land supply. Though the current increment supply of land have been strictly controlled, but there are still a significant part of the urban stock land developers deliberately stockpiling. Countries are actively to strengthen the inefficient utilization, revitalize the idle land, enrich the primary market of land supply the land. Timely adjusted according to need to promote the healthy development of the real estate market, lead to form a reasonable price of real estate.3. Solving the structural contradiction in the commercial housing market. Government should strengthen planning, land policy guidance, keep the ordinary commercial housing of subject status, at the same time, appropriate control of high-grade commercial housing construction. By means such as tax, credit, interest rate, by a progressive tax, make the real estate developers to develop high-end housing and low-cost housing profits were similar, guide enterprises to develop ordinary commodity housing,at the same time, to make reasonable arrangement of economic affordable housing construction scale, adjust the supply; In part of the conditions are ripe, through grant housing subsidies to low income people instead of affordable housing. Corresponding encouraging policies, on the other hand, the development of low-rent housing, intensify the construction of low-rent housing, expand its scope of supply, guarantee a minimum income the housing needs of the crowd.