Land Market Maturity And Its Impact On Real Estate Market

As a basic factor of production and scarce resources,the reasonable and efficient configuration of land resources related to the sustainable development of economic society.The land market is an effective way to rational allocation of land resources.In China,with the land market in the economic macro-control is playing a more and more important role,the status of the land market has become increasingly prominent.In order to study the progress of land market construction in Shandong Province,this paper constructs the evaluation index system of urban land market maturity,and makes an empirical study on the relevant data of some districts in Shandong Province in 2015.Through comprehensive evaluation to study the land market development degree and make conclusions,for promoting the construction of land market in Shandong Province,improving the allocation of urban land resources efficiency.In this paper,literature research,qualitative and quantitative analysis,empirical research and other methods have been used to conduct the following aspects of the study:(1)Analysis of land market situationThe land transfer mode in the land first-level market determines the degree of marketization of the land market,which shows the land market development degree of Shandong Province to a large extent.(2)The establishment of land market maturity evaluation systemThe land development maturity index system established in this paper includes eight evaluation indicators :the paid use rate of real estate development land,land open rate,land idle rate,land supply rate,housing vacancy rate,house price income ratio,real estate financial credit ratio,real estate investment.(3)To analyze the impact of land market maturity on the real estate marketIn order to study the mechanism of the maturity of the land market on the real estate market,this paper also constructs the evaluation system of the development level of the housing market.The evaluation index system includes five evaluation indicators:the commercialization rate of housing,commercial housing sales rate,housing consumption expenditure ratio,housing vacancy rate,house price income ratio.On the basis of obtaining the land market maturity and the development level of the housing market,the paper analyzes the relationship between the land market development degree and the operation efficiency of the housing market.Through the analysis of the results of the evaluation,the main conclusions of this paper are:(1)The land of the market configuration is low.First of all,the allocation is a largely non-market way,the current land supply in Shandong Province in the allocation of land supply ratio is still high.Secondly,the ratio of agreement land supply should be further reduced.(2)There is an imbalance between the land development of Shandong Province in 2015 in12 districts.(3)Regional land market maturity and socio-economic development are basically synchronized.The higher level of economic development generally results in a higher land market maturity.The difference in socio-economic development has led to a corresponding difference in land market maturity in most cities.(4)The maturity of the land market in Shandong Province is not well developed,and the government needs to further regulate the land market trading activities and promote the construction of the land market.(5)Through the analysis of the land market maturity and the housing market development level of 12 districts in 2015,the higher land market maturity and the higher housing market development level are synchronized,indicating that land market maturity of a city often promotes the formation of a mature housing market,the housing market and the land market are the two major parts of the real estate market,it appears that the land market development level is positive to the real estate market,but the housing market of a city has its own independence.