Study On The Relationship Between Land Supply Policy And Real Estate Market Restriction

With the development of the society and the economy,the real estate industry is known as one of the most important industries of the national economy.It is the industry with highly relevancy and strong relativity.The regular development of the real estate market not only concerns the overall situation of the national economy,but also influences people's peaceful living situations and content working states,and also the stable and prosperous society.The land supply is the foundation of the real estate market. It links land management and real estate development,and it is the key to the coordination and the regular development of the land market and the real estate market. Since the open and reform,Chinese government has been carrying out the macroeconomic regulatory according to the concrete situation of the real estate market. During the fifth macroeconomic regulatory,besides the monetary policy and fiscal policy,the land policy became the third method to regulate macroscopically.This marks that the land policy has been raised to the same level as the monetary policy and the fiscal policy.And the managerial function of the national land has been raised to the level of macroeconomic regulatory.Because the government has the supply right of the initial land,it is the supply policy that comes first in the Land macro-control policies. The land supply policy has a great effect on the development and the operation of the real estate market.Recently,according to the rapidly rising housing prices,the rising rate of vacancy and the unreasonable structure in our country which influence the regular operation of the market,the government has been taking stronger measures to adjust.In 2008,under the background of the international financial crisis,the development of economy in China has slowed down and there is a worsening trend.The real estate market is still in the depression.The government carried out a series of macro-control policies constantly to bailout the market so as to keep the marker developing steadily.These policies are mainly aimed at strengthening the supply of the land,especially the supply of policy-related houses.In this process,the relationship between the land supply and the real estate market is becoming a concerned problem. Therefore,it is necessary to research the relationship between the land supply policy and the real estate market in order to establish the policies which regulate the development of the real estate market.The research can provide possible suggestions for the government to adjust the real estate market.It is also very important to guarantee the sustainable development of urban land saving and intensive use.This essay is based on the transmission mechanism of land supply policy implemented in the real estate market.Through the theory and empirical studies,and the process analysis of land supply policy implemented in the real estate market from 2001 to 2008,and by setting up four-guardant model in real estate market,the essay is aimed at analyzing the relationship between land supply policy and real estate market restriction and providing the scientific basis for improving the land supply policy takes part in the macroeconomic regulatory of the real estate market.To achieve the goal,Chapter 1 gives a general idea of the research on this subject both abroad and at home:the foreign researchers emphasize the land supply and housing market while the researchers at home concentrate on the land policy,the joint of the land policy and the real estate market,and the relationship between the land supply policy and the real estate market.Then Chapter 1 introduces the contents and the structure of the essay briefly.Chapter 2 describes the theoretical basis of the relationship of land supply policy and real estate market restriction.These theories include land tax and land price theory,economic theory of supply and demand,resource allocation theory,policy studies theory(Mendel Rule and Tinbergen Rule),market failure theory and institution transference theory.Chapter 3 analyzes the mechanism of land supply policy implemented in the real estate market,which includes the definition,features, means(land use planning,land reserve system,land expropriation policy,transfer of the rural collective construction land,land saving and intensive use policy),contents(land supply amount,the structure of land supply,the time of land supply,the style of land supply,land price).It also analyzes the process of the joint of the land policy and the real estate market from the year 2001 to 2008.Chapter 4 describes four-guardant model in real estate market。It analyzes the adjusting relationships between land supply policy and real estate market restriction including the relationship between the amount of the land supply and the amount of the real estate market,between the land prices and the prices of the real estate,between the ways of the land supply and the housing prices,and also between the structure of the land supply and the structure of the real estate market. Chapter 5 first introduces the generality of the researched zones and the adjusting process of joint of the land policy and the real estate market according to the facts in Zhengzhou.Then Chapter 5 analyzes the relationship between the land supply policy and the total amount of the real estate,and between the structure of the real estate and the land prices.Chapter 6 makes a conclusion and provides some suggestions. Meanwhile,it points out the creation and the disadvantages of the essay research.