Research On The Impact Of Land Transfer Rules On Urban Land Prices In China

Recent years have witnessed the sustaining increase of the land price in China despite the central government has repeatedly emphasized "do not speculate on housing and housing,".At the same time the government also called for "stabilizing land prices,housing prices,and expectations.”In response to the problem of rising land prices,different places have implemented different land transfer rules.In order to cope with the rise in land prices in different periods and in different cities,different types of land transfer rules such as "limited house prices,competitive land prices","limited land prices,competitive allocation and construction" have emerged.The purpose of the emergence of land transfer rules is to better restrain the rise in land prices,so as not to cause excessive land prices.Therefore,this article focuses on the question of whether land transfer rules can effectively restrain the rise of land prices and achieve policy goals,aiming to explore the difference in the impact of different land transfer rules on land prices in the same city.Meanwhile the difference in the effect of the same land transfer rules on land prices in different cities is also discussed.This article firstly sorts out the land transfer rules and land price related theories as the theoretical support,for variable selection and empirical analysis.Then the evolution of land transfer rules in recent years are sorted out,based on different types of land transfer rules used in different periods and different cities.The results provide empirical evidence for sample cities and typical rules for empirical analysis.Then impact of land transfer rules on land prices is analyzed from two perspectives.Then different characteristic price models are established.Then the perform multiple regression analysis is performed to study the impact of land transfer rules on urban land prices in China.Firstly,from the perspective of different cities,the impact of the same land transfer rules in different cities on urban land prices in China is analyzed.After studying the land transfer rules of "limited house prices and competitive land prices" in Changsha and Nanchang,it was found that the limited house prices rule only restricts the maximum price of the roughcast house,so its impact on land prices is not significant.At the same time,Guangzhou,Chengdu and Nanning were selected,for the analysis of the impact of "limited land prices and competitive construction" on land prices.It was found that the land transfer rules in Chengdu can have an impact on land prices.Both the scarcity of land supply in Guangzhou and the high land dependence in Nanning result in a slightly impact of the land transfer rules.Secondly the impact of different land transfer rules on land prices in the same city is analyzed from the perspective of different land transfer rules.The "limited house prices,competitive land prices" and"limited land prices,limited house prices" applied in the same period in Changsha City is compared.It is found that a reasonable "limited land prices and house prices" can have a restraining effect on land prices.At the same time,the "land-limited price,competitive allocation and construction" and "land-limited price,limited housing price,and competitive construction" used in Nanning were discussed,showing the land transfer rules do impact the land prices under the multi-factor controlled "land transfer prices.Finally,it is concluded through the research that:(1)different cities adopt different land transfer rules to achieve the goal of stabilizing land prices;(2)different cities have the same type of land transfer rules will make different effects on land prices;(3)the effect on the land prices under different land transfer rules in one city is different;(4)The stricter the land transfer rules,the greater the impact on land prices.At the same time,the suggestion is put forward as follows:(1)Reasonably formulate land transfer rules to effectively respond to price increases;(2)Use reasonable land transfer rules to stabilize land prices with the considerations of different city policies;(3)Restrict local government powers and monitor price-limiting behaviors.