| Real estate was not commercial property in China for a long period of time, government implement welfare housing distribution policy and administrative allocation policy under planed economy. After the reform and opening up, China’s property market began move toward to marketization gradually. The implementation of series of housing reform policy has driven the rapid development of the property construction, real estate finance, intermediary services and other industries,and market mechanism in allocation of housing resources also play a more important role than before.This papers established a indicator system to measure China’s property market deepening index, and ultimately synthesize the property market deepening relative index by analyzing domestic and foreign markets commercializes measureestimate and property market deepening theory. Indicator system divided into supply index, demand index, price index, and comprehensive index (including intermediary services, law and related macro control) that respond to the property market depth by study marketization level of trade,macro-control, intermediary services, legal protection and the opening on the property market, housing and financial markets. The assay selected26indicators that include land transfer rate, incidence of land case, housing consumption expenditure ratio, collected the relevant dates (1999-2011) of Housing price income ratio, employees proportion of domestic and abroad real estate developers, real estate finance credit ratio.etc11indicators. Different correlation degree of Indicators and real estate deepen lever are standardized, and converted into a unidirectional index that reflect the deepening level property market.14real property experts and scholars marked the weight of1st level indicators and2nd indicators, then synthesize the2nd level indicators to1st level indicators according scoring, finally synthetic the relative index of market deepening level corresponding the weight of three1st level indicators.Then get a conclusion that overall market deepening level of housing market is higher than land and financial market by the analysis of property market reform development of1999-2011according to the property market deepening relative index, and research the market maturity differences and development trend of the land market, housing market and real estate finance market. The regional marketization level is gradually improved, the property market deepening level of Beijing, Shanghai, Guangdong, Hainan. etc provinces and municipalities are rank well. In addition, the relative index of property market deepening level of eastern, central, western and northeastern China showed a steady increase in the period of1999-2011through the comparison, marketization level of eastern part is in a leading position, then western, central and northeast.At last,the property market deepening level of different regions were classified into four types and give some policy suggestions based on different situations. |
