Xi'an Residential Real Estate Market Price Prediction

As for the lead of the national economy, the real estate industry plays an increasingly important role in the economic sphere.The real estate industry gives weight in economic development, the expansion of domestic demand, investment and the growth of consumption. However, in recent years, with the constant development of social economy and urbanization and the domestic price of commodity housing in major cities continuing to rise, despite of the macro-control efforts from the government, the price of commercial housing still shows a higher trend. In response to this phenomenon, it is necessary to study the prices of commercial housing in the real estate market.This article comprises of four parts, the introduction included. In the first place, it describes the concepts and characteristics of residential housing and the relevant price, and introduces the theoretical basis referring to the housing prices.In the second place, on the basis of it analyses advantages and disadvantages of the residential housing market in Xi'an, and then targets at the impact of all factors affecting the housing prices in Xi'an with the descriptively statistical analysis. Finally, it does an empirical study on the factors influencing house prices in Xi'an, with the introduction of principal component analysis, and then concludes that Completion of residential construction costs, land acquisition costs, housing supply and demand ratio, land revenue, residential real estate making contribution to the growth rate of GDP and disposable income per capita hold a larger load in the first principal component. Per capita living consumption, personal housing accumulation fund loan interest rates, degree of urbanization have a greater load in the second component.The third place, it sets up a model about predicting housing price and draw sales price in the next few years in Xi'an residential, based on the results of principal component analysis and regression with econometric forecasting theory.The fourth place, it presents relevant policies and recommendations to the government on the healthy and stable development of the housing market on the basis of the predictive results in a specific situation.