The Theoretical And Empirical Study On Relationship Of Land Price And Housing Price

The relationship of land price and housing price is the focus which every circle concerns with and argues and is the key to adjust the real estate market. Housing price and land price are affected by the factors such as economy, society, environment, policy and so on. Under market economy conditions, the formation and rise of the housing price is mainly determined by the law of value and the relationship of market supply and demand, and the rise of the housing price, to the end, is the result of changes in supply and demand which cauced by urban society and economy development. Housing price and land price interact and affect each other through certain conduction mechanism.First, in the basis of expositions on the meanings of land price and housing price, the essay analyses the relationship land price and housing price and the conduction mechanism of them in economic theory view, and take empirical analysis of the relationship of land price and housing price of several China's major cities; then it introduce the ratio of land price to housing price and the policy concerned in foreign countries and analyses reference use of them. In the part of econometric study, given the sample of season price indexes of estate and land from 2000 to 2005 in Shenzhen, the essay has systematic anlysis of the relationship of housing price through Granger causality test.At last, in the basis of former analysis, some measures and suggestions are suggested in ordet to make good use of landmarket and real estate market.