Study On Running Characteristics Of Regional Price Of Chinese Real Estate Market

The real estate position in the national economy has been increasing since the introduction of market-oriented real estate in 1998. There is huge leap in investment of real estate, sales area, sales amount and GDP growth in terms of absolute quantity or the relative velocity. The real estate has been developed into an important pillar industry in national economy for recent years. The rapid development of real estate industry has made everlasting contribution to growth of the national economy, development of related industries and improvement of the quality of life, but to some extent also disrupted the order of people’s life and the harmonious atmosphere of society as a whole. The increasing price difference caused by the imbalance of regional development and the regional diffusion effect of housing price and bubble initiated by the strong relevance of real estate itself have raised people’s question about the regulation of real estate policy. It requires that we make a scientific and effective assay of regional characteristics of housing prices and regional spatial mechanism based on a comprehensive and objective understanding of regularity of housing market. For this purpose, this thesis focuses on the following aspects in order to provide scientific principle for the plans and decisions according to the people, the time and the locality.(1) Briefly introducing the research background and significance, research status, the contents of this thesis, the main research methods & models and so on.(2) Combining the development situation of China’s real estate market, we analyze a labyrinth of economic relations between the main bodies of China’s housing market, which pave the way for the analysis of regional price characteristics in the following chapters as a background.By analyzing the current situation of the China’s housing market in the investment demand, the scale of construction, land development and so on, we find that some problems has made the risk of rising housing price and increasing bubble coefficient.And by using the method of game theory to analysis of a labyrinth of economic relations between central government and local government, between local government and local government, between real estate developers, between real estate developer and housing purchaser, and between local government and real estate developer with the perspective of maximizing the profits, which is helpful to correctly understand various issues in real estate market, also helps to explain the current dilemma of implementation of real estate regulation policy(3) Analysis of the differences of regional price in the real estate market. The disparity of operation characteristics of the regional housing price are described, and then using the factor analysis and cluster analysis method to find the influencing factors of different regional price.(4) Analysis of the linkage effect of regional price and the spatial diffusion of housing bubble. Firstly, by constructing a VAR model and using Johanson cointegration test and Granger causality test to study spatial linkage characteristics among regions and among cities..Then studying the spatial diffusion of housing bubble. Firstly, 35 cities are divided into four regional, then take this as the basis for the research of real estate bubble space diffusion.(5) Analysis of spatial operation mechanism of Chinese real estate market by constructing spatial Durbin mode.At the same time, we analyze the connected efficiency of price by choosing special weight matrix,.(5) First of all, reviewing the China’s real estate policy, and evaluating its implementation results, Then, based on the implementation effect of the current real estate policy, combining with the research conclusion, we put forward the following suggestions: the future regulation of the housing market needs to make more targeted and accurate adjustment according to different situations; At the same time, when taking control measures, the government must consider the space linkage between the regional real estate; Learning "soft" ways from Swiss central bank to dealing with the real estate bubble, reforming "GDP hero" official promotion system; Speeding up the reform of land finance and the implementation of property tax, broadening the investment channels from many control measures and establishing a long-term mechanism of stable development of the real estate market.