Study On The Vacancy Problem Of Commodity Housing In Chongqing City

Real estate has made a tremendous contribution to China’s rapid economic growth, however, with the policy change and the in-depth development of the property, there are many problems, especially, the large number vacancy of the commodity housing is one of most prominent questions in the real estate market.In 2003, There are about 5,512,800 square meters commodity housing vacancy in Chongqing city, secondly only to Peking, Guangzhou, rank the third, which has engrossed much fund. Particularly, the commodity residence and operating building vacancy is account for half of total amount. Not only it has affected real estate industry itself, but also seriously affects healthy run and sustainable development of the national economy, furthermore, it affects construction of the harmonious society, which results in a vicious circle. It not only is the economic problem, as well as the social problem. Therefore, we must pay more attention to solve it.The paper elaborates the concept of the vacancy and gives the theoretical explanation to vacancy of the Commodity housing using the economics; Considering the particular factors of the housing market in our country, an estimation of vacancy has been made to it. Holding the massive statistical data and analyzing data, the paper draws such conclusions as follows:Firstly, there are two characteristics in condition of commodity housing vacancy in Chongqing city. One hand, the body of commodity housing vacancy is the commodity residence and operating building, and the latter increasing more quickly, on the other hand, in period of 1998-2002,new vacancy production were major component,which were wait for sale, 2003-2005,a large number vacancy which were more than one year were drug on the market.Secondly, according to the real estate market natural period different stage characteristic, the paper judges 1997-2005 year period of Chongqing real estate market to be at the natural period rise stage the second stage, if speculative froth existence, it often appears in this stage, therefore speaking of the government as well as the market participant, it is worth vigilantly.Thirdly, according to the commodity housing vacancy rate the sector division standard judgment, the Chongqing commodity housing vacancy rate is in the backlog area, which is in the vacant warning area in 1999-2000 year, and is in the reasonable vacant area in 2003-2005 year.Fourthly,, though the vacancy rate is in the reasonable range on the whole, there are some problems: not only the structural vacancy of residence is always existing, but also it is difficulty to reduce the operating building vacancy which is excessive.Fifthly, based on the market theory, this paper seek the cause from different angle.On the circulation and exploitation side: land supply is the first important factor, then the housing price and cheap money also produce an effect on vacancy.On the supply side, the reason for configurable vacancy as follows: the unreasonable structure of supply、pooling supply、residence developers turn pell-mell investment to operating building. Finally, in the term of demand, that shortage purchasing power、the larger gap between rich and poor are the negative factor for commodity residence vacancy.Finally, on the basis of what has been discussed above, this paper tries to raise some constructive countermeasures to solve the problem of excess housing vacancy.