The Effects Of Land Rent And Land Price On The Urban Housing Price In China

The development of China's real estate market has experienced three stages: the initial stage of the real estate market in 1998-2005,real estate is the pillar industry of the national economy,which is crucial to the sustained and healthy development of the national economy;the rapid development of the real estate market in 2005-2013,the rapid rise of housing prices,the government continued to strengthen the regulation and control of the real estate market,restraining the rise of housing prices;and the period from 2013 to now.At the end of 2016,the Central Economic Work Conference put forward that "houses are used for living,not for speculation" and resolutely curb the rise of house prices.From the development process of the real estate market,it is found that the disorderly development of the real estate market has brought long-term and complex challenges to the socialist economic construction of our country.Then,how to make the development of real estate market and house price suitable for the current social and economic development level of our country and in line with the socialist market economic system is an urgent problem to be solved.Looking from the edge of a city to the center,we find that house prices are always rising gradually in the fluctuation.The price of house on the edge of a city is the lowest,and the price of house in the center of a city is the highest.It is assumed that the location of land dominates the fluctuation of house prices.Real estate is the combination of real estate and real estate.The influence of natural or social factors of land on real estate market and house price can not be ignored.Therefore,this paper combines the basic national conditions of our country which will remain in the primary stage of socialism for a long time,under the established socialist market economic system,based on Marx's theory of land rent and land price,studies the development law of urban housing prices in China.On the basis of combing the domestic and foreign literature on house price and investigating the nature and characteristics of land ownership in China,according to Marx's analysis of fictitious capital and land rent theory,an innovative conversion formula of land rent to land price is put forward,which becomes an important theoretical tool for dividing the composition of real estate price.Subsequently,according to Marx's method of studying general commodities in Das Kapital,the production price of real estate is cut according to three parts: production cost,average profit and purchase price of land rent.On the basis of labor value theoryand land rent price theory,the influence of each part's value composition on house price is analyzed separately.The conclusion is that the law of differential rent is the basic law of the development of real estate market.The land rent influenced by the difference of urban land location and land condition accounts for the majority of the house price and controls the change of house price.On the basis of the qualitative analysis of housing prices,this paper uses modern economic research methods to construct a supply and demand model of the real estate market,which includes the supply and demand relationship of the land market,and derives the equilibrium equation of the real estate market with the "land price-housing price" relationship as the core.Through the derivation of housing prices on various factors,it is found that urban real estate prices are positively correlated with land prices,household income,development capital input,and negatively correlated with down payment to housing value ratio,loan interest rate and labor productivity.In order to further analyze the determinant degree of land price to house price,this paper estimates the equilibrium price equation of the real estate market based on empirical evidence of Chengdu,and the conclusion is consistent with the above.Finally,practice has proved that the demand-side administrative control measures such as purchase restriction and loan restriction implemented by cities in China can not achieve the goal of stabilizing the operation of housing prices,but will cause social welfare losses.Based on the conclusion of the study,we should adhere to the idea of structural reform of the supply side of the real estate market,and put forward three core suggestions for establishing a long-term mechanism of regulation and control of the real estate market to maintain the steady and orderly development of the real estate market:first,deepening the market-oriented reform of urban construction land,forming a land supply system of multi-main supply;second,speeding up the construction of infrastructure with inter-city traffic as the main body;The third is scientific and rational urban planning,changing scattered urbanization to centralized urbanization,and speeding up the construction of urban agglomerations.