The Relation Between Housing Price And Land Price

Since1998,China starting the housing system reform, China's economic development, the increase in the income of residents, housing prices continued to rise rapidly. Along with the land transfer system for the deepening of reform, land prices started to rise. Urban land prices and property prices is the main system, the relationship between the coordinated operation of the real estate industry, efficiency of urban land use has a significant impact. Understand the value of land and housing prices, For the real estate market to promote the sustained and healthy development of the theoretical and practical significance.This paper first foreign scholars on the town land and housing prices, housing prices and premium levels of the factors systematically reviewed the literature. From the research scholars at home and abroad on the basis of the real estate market in China's actual conditions, To quantify the costs of land and housing prices and the impact of factors. Construction under simultaneous equations of the basic procedures and methods to construct our cities and the premium prices of simultaneous equations models. Then the country's 21 major cities from 2000 to 2005, the sample information respectively of the country's 21 major cities, 8 January 2 line 13 cities and three cities line premium prices and the prices of land and housing prices and their impact factors into Empirical research firms using second-order least squares (TLS) model to estimate. Finally these three models estimate the similarities and differences between the results of comparative analysis.Adoption of the above documents, standardized analysis and empirical studies, the paper finally come to the conclusion: land and housing prices between simultaneous, independent equation model with a no quantitative analysis, and simultaneous equations model of urban land and housing prices for two-way relationship between quantitative research; prices of premium and mutual influence premium prices to the impact of greater than or similar to the prices of premium; the country's 21 major cities with premium prices interaction coefficient than the largest (2.4) Line eight cities on January 2 times (1.5), 13 three-lane urban minimum (0.93).On urban land prices and the two-way relationship between empirical research is not at home, This paper on urban land prices and the simultaneous equations model to some extent with exploratory. But empirical research is limited to the country's 21 major cities, the sample time span long enough, conclusion of the study the reliability and universal yet to be tested. Future studies from the selected variables and quantify sample volume increased data model function form the real estate market, such as classification of different nature, for further study.