Study On The Differentiation Of Land Markets In Chinese Cities

The urban land market plays an important role in the social and economic development.Since the Reform and Open Policy was applied,the urban land market has gradually improved as the result of the deepening reform of land use system.With its rapid development,urban land market presents significant disparities in different regions and cities.Therefore,it is of great significance to research the phenomenon,essences,principles of the differentiation of urban land market in China,which can be used to guide urban land market,rational use of urban land,as well as implement practices of urban land management.In our study,we focused on the differentiation of urban land markets in China from the viewpoints of principles and practices.Firstly,this study defined the differentiation of urban land markets and then presents their phenomenon and essences;then,we analyzed the principle of the differentiation of urban land markets;thirdly,we studied on the situation and principles of the differentiation of urban land prices,and also calculated the amounts of urban land supply and demand;finally,according to their characteristics,the paper proposed different policies on land use and land supply policies.The main results were as follows:(1)The differentiation of urban land markets includes the objective differences among different regions as well as their unreasonable variations.The differentiation of urban land price is the most obvious,and the differentiation of supply-demand relationship results in the differentiation of urban land market.(2)We can explain the urban land market differentiation from two aspects:land consumption and land investment.First,the unbalance development resulted in that people prefer to live in developed areas and most of credit resources also existed there,which increase land consumption;meanwhile,the immigration to large cities and capital flows out decrease land consumption in non-hot cities.Secondly,more and more land consumption in the hot cities results in that large amounts of people prefer to investing land in these cities;on the other hand,people in the hot cities prefer to invest housing in these cities under the situation of the economic recession and other uncertainty investments.Finally,the policies of land supply,monetary and credit will further strengthen imbalance between land supplies and land demands in different regions.(3)The price differentiations of commercial lands and residential lands are more significant than that of industrial lands,and the prices of commercial lands and residential lands are highly correlated with city levels and its urban population.Since the year of 2014,commercial lands and residential lands among cities present new stratifications in China,when the stratification of real estate markets are also significant.The different policies may lead to the unreasonable variation of urban land market.Market differentiation among the cities will tend to be the objective difference when the market has become a leading force in the impact of land market development.(4)Both the floor area and the location can affect the ratio.And the investment demand of the residential land can also result in higher price of the residential land than the price of the industrial land.In addition,products from different lands result in different levels of rents.The higher profits from house trade can also lead to that the local inhabitants prefer to investing the residential land,compared with the industrial land.(5)It is indicated that residential lands are oversupplied in land market in our country,via the analyses of supply and demand in national and city level.A large part of the so-called "imbalance between supply and demand" in urban land markets is entailed by investment demand from developers and families,instead of the insufficiency of land supply.In cities,of which urban population shows negative growth and land supply exceeds the demand,the amount of new residential lands must be strictly controlled.Prudently implement real estate "stimulus" policies in the issue of "destocking" to avoid promoting investment or speculative demand in land market.(6)Although the land price level,land price growth and land supply area are consistent with the urban population scale in most cites,there are also some factors such as land resource endowment and economic development which cause the inconsistent phenomenon.Different land use and land supply policies should be adopted according to the characteristics of different cities.