| Real estate is a pillar industry of the national economy.Housing prices soared in recent years,especially since the second half of 2015.Housing prices doubled in Beijing,Shanghai,Guangzhou,Shenzhen and parts of the provincial capital cities.Take Hefei for example,prices for the first time exceeded ten thousand Yuan,reaching 11298.26 Yuan per square meter in April 2016.In order to curb the rapid rise in housing prices,local governments have took many real estate adjustment policies.To further explore the influence factors of the real estate market,and promote the healthy development of the real estate market,we collected the data of Hefei real estate prices from 2006 to 2016 and seven indicators include GDP,price index,commercial lending rates,disposable income of urban residents,average land transaction price,real estate investment.Through empirical analysis,multiple linear regression models are established to study the influence of the seven indicators of real estate price.Based on the analysis of the factors affecting real estate prices in Hefei,we got the following conclusions:first,the level of economic development,land price and price index are positively related to real estate price;second,the loan interest rate,disposable income of urban residents are negatively correlated to real estate prices.In order to promote the Hefei real estate market healthy development,this paper puts forward the following countermeasures and suggestions:first is to maintain steady economic growth;second is to improve the land supply mechanism;third is to maintain the moderate and stable development of urbanization;fourth is to improve the real estate regulatory mechanism;fifth is to guide residents rational purchase. |
