Influencing Factors Analysis And Experiential Research Of Housing Price In Beijing

The housing price in China went up rapidly recent years, especially in Beijing City. An exploration of the reason and the influence factors for such high prices became a hot research topic. In this work, the influencing factor for the housing price in Beijing City was carried out, which were of both theoretical and practical significance.Through a sorting of the influencing factors of the housing price, an indexing system was constructed. According to the annual data during 1994-2005 in Beijing City, the housing price and its influencing factors were analyzed from the point view of need and supply.The conclusion of the research is: The demand factors include the regular population, per capita spendable income, and sale area, supply factors consists of construction cost, land cost, space completed, and real estate investment, which constitutes a basis for the index frame. The major demand factor is the per capita spendable income, which is positively correlated to housing price and annual sale which is negatively correlated to housing price. Measurement in higher housing price based on the per capita spendable income in Beijing is higher than in most other cities. The major influencing factors for supply are construction and land costs, which are also positively correlated to housing price.In summary, the influencing factor for housing price was complicated, which increased the difficulty in the regulation of housing cost. The research results in this work may provide some references for the government regulation and sustainable development of Beijing housing market.