| Increase of real estate price undoubtedly has become a hot topic in recent years which caused great attentions from the whole society and has a significant impact on economy and people’s livelihood. As for the study of real estate price, people are inclined to ascribe the high Housing price to high land prices, heavy tax burden, etc. In fact, the factors that cause real estate price to rise is not only includes explicit expenditures reckoned in the real estate development costs, but also includes the high transaction costs of real estate supply chain due to the intricate interests between each node and the uneven distribution of benefits and other invisible costs. What’s more, the mechanism that produces transaction costs and invisible costs is the driver that leads to the rises in real estate prices.Based on the perspective of the real estate supply chain, in the basis of analysis of the structure and characteristics of real estate supply chain in China, starting with supply chain costs, this paper identifies a large number of explicit and implicit costs generated in the real estate supply chain operation in China and analyses the driving mechanism between cost drivers and supply chain cost as well as real estate price and finally establishes the real estate supply chain cost control mechanism. The theoretical significance of the study is that this paper proposes a supply chain view to design a new theoretical framework for real estate supply chain cost management and real estate price control. Meanwhile, this paper also provides a useful analytical approach and method to optimize the real estate supply chain structure, promote trust and cooperation between different subjects, reduce cost overflow, control real estate price and improve customer value of the supply chain.Based on the reference to a mass of literature, this paper first analyses the structure and characteristic of real estate supply chain in China. On the baisis of commodity logistics theory, the paper establishes a supply chain network model of real estate in China based on the physical chain, capital chain and information chain and analyses the real estate supply chain of goods, capital and information flow state in each link and also discuss the features of real estate supply chain, which makes it different from other industies.Second, this paper studies the supply chain cost structure of real estate in China by using cluster analysis:establishing the four-dimensional structure of the cost structure based on the properties and structural system of real estate supply chain cost analytical framework. The first dimension is divided by the dimension of cost ocurred into cost of production dimension and relationship dimension. The second dimension is divided by cost element attributes into the costs of manpower, assets, materials, natural resources, transportation, time, information costs, etc. The third dimension is divided by cost flow carrier into the cost of material flow, capital flow and information flow and finally being divided into input side cost, the production side cost, circulation side cost and consumer side cost according to the cost stage. By analysing real estate core processes of the supply chain, this paper classified the cost in accordance with the different attributes and stages based on cost items produced by the working structure analysis, and establishes the real estate supply chain cost clustering structure.Third, this paper studies the real estate supply chain cost drivers and driving mechanism to supply chain costs and real estate price:Having a clear understanding of the close relationship between real estate supply chain costs and real estate prices, the paper finds out the cost drivers in each stage and establishes a cause-effect diagram model between cost drivers and real estate prices. Through the formation of a variety of feedback loops, the key drivers that affect the real estate supply chain costs and prices is focus on five aspects:(1) the impact of the financial institutions;(2) the impact of local government;(3) the impact of supply chain partners;(4) the impact of developer Union;(5) the impact of consumer investment speculation. In view of the above five aspects, the paper progressively demonstrates the influencing mechanism of five kinds of cost drivers to real estate supply chain cost and real estate price by means of cause-effect diagram, realistic analysis and game analysis.Fourth, this paper conducts an empirical analysis on the realationship between real estate key drivers of SCC and real estate price and applies co-integration test and linear regression model in econometrics to the selection of the main supply chain cost drivers of real estate in China. Based on the empirical analysis of land price, the proportion of land concession expense land to local financial revenue, bank loans obtained by real estate enterprises, benchmark lending rate, the proportion of the Top100real estate enterprises output value to all the output value of real estate enterprises and real estate speculation degree, this paper discoveries that bank loans obtained by real estate enterprises has the strongest effect on the real estate price, followed by land price, the proportion of land concession expense land to local financial revenue and benchmark lending rate. The results show that the speculative degree, which reflects the investment speculation phenomenon in the real estate market, has a positive relationship on real estate price. Besides, the market share of Top100real estate enterprises output value has a strong influence in promoting real estate price.Finally, this paper studies the real estate supply chain cost control mechanism. Combined with the problems in the real estate supply chain operation, the paper proposes design principles and ideas of the real estate supply chain cost control mechanisms. Based on the environment of the real estate supply chain and its characteristics, the paper improves the real estate supply chain management from external system construction and internal mechanism construction and proposes specific measures to control the cost of real estate supply chain and thus lower real estate price and improve customer value. |
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