The Study On What Have Influence On The Housing Rent-Price Ratio And Their Regional Differences

In recent years,with the rapid development of China’s economy,the urban housing market in China has developed rapidly.However,the speed of the urban housing price deviated from development of housing rent,and it shows significant regional differences.It has a certain influence on the sustainable development of Chinese urban housing market.At the same time,as an important indicator of the relationship between rent and price,the rent-price ratio appears big fluctuation.And the rent-price ratio of different regions also presents obvious differences.Therefore,this research mainly bases on the influence factors of housing price and housing rent,then analyzes the influence factors of the rent-price ratio and thus estimates the health of urban housing market,as well as explores the differences of the rent-price ratio influence factors in different regions in China.In the first place,this research describes the influence factors of housing price and housing rent,and the mutual relation between them.It then summarizes theories and researches related to rent-price ratio.Then it divides the urban housing market and describes their unbalanced regional development of the housing market.Then we can conclude the influence factors from the theory models of the housing price and housing rent,and on basis of this,we can study their influence factors of the rent-price ratio,construct the rent-price empirical model,and study related influence factors of rent-price ratio.Then comparing rent-price ratio with the risk-free rate and the international standard interval,thus we can judge the health of the urban housing market in China.Therefore,we can use the eastern region as the standard to introduce the regional dummy variables to study the differences of the rent-price ratio influence factors in different regions.Through the analysis we can get the following conclusions: firstly,there is an unbalanced regional development in Chinese urban housing market.Secondly,the third industry in GDP has a positive effect on the rent-price ratio,while,housing land price level and the housing price growth rate have a negative effect on it.Thirdly,through the comparison of the rent-price ratio with the risk-free rate and the international standard interval,we can judge that compared to the housing rent,the housing price is beyond reasonable category and the urban housing market has property bubble.Fourthly,rent-price do has regional differences,no matter in the overall level,specific influence factors,the direction or tendency of influence factors.