Research On Urban Commercial Real Estate Investment Environment Competitiveness

Commercial real estate investment environment is the sum of all kinds of external factors which influence the investment activities when the investors invest in the commercial real estate.Urban commercial real estate investment environment competitiveness refers to the city's ability to attract commercial real estate investors and to compete for investment capital.In the current background of commercial real estate investment overheating,significant commercial real estate market differentiation among cities and lack of guidance of the central government's policy,research on urban commercial real estate investment environment competitiveness is an important subject with realistic significance,both for local government and potential investors.Based on the relevant research results at home and abroad,this thesis mainly has following aspects of exploration and innovation.Firstly,according to the characteristics of our country's commercial real estate development and investment environment,based on comparing and summarizing the existing research of city commercial real estate investment environment index system and analysis method,commercial real estate investment environment is combined with competitiveness theory and urban commercial real estate investment environment competitiveness is taken as the research object.Secondly,this thesis analyzes the influencing factors of urban commercial real estate investment environment and their influencing mechanism,starting from the four dimensions of economic environment,consuming market environment,real estate market environment and social environment,23 quantitative indicators are selected to form the index system,and using global principal component analysis,urban commercial real estate investment environment competitiveness measurement model is constructed.Thirdly,based on the competitiveness measure results,validity of the ranking and thus the model is validated through the consistency inspection.And further transverse and longitudinal comparative analysis from the competitive advantage and competitiveness dynamic evolution,competitiveness and actual performance matching degree angle draw more in-depth research results,which can reflect more comprehensively the relative levels and future potential of each city's commercial real estate investment environment competitiveness,as well as can provide better decision support for local governments and investors.Fourthly,using the panel data of China's 35 large and medium-sized cities from 2006 to 2015,the measurement and comparative analysis of commercial real estate investment environment competitiveness are made.Through the inspection and analysis results,the effectiveness of the proposed urban commercial real estate investment environment competitiveness index system and the feasibility of measure and comparative analysis method are verified.And how local governments and investors use the measurement and analysis results to make better policy making and investment decisions is also discussed to show the practical value of this study.