| Development of real estate in China started from the late1980s, since the policy of Welfare housing was stopped in the second half of1998, the real estate market has experienced a series of commercial reforms, since then the development of real estate opened a new page. Development of real estate has played an important role for improving the living conditions, stimulating economic growth, expanding employment and speeding up urban construction. But in recent years, China’s real estate price rose too fast in some areas, residential real estate price continued to soaring, the rate of increase far beyond the level of overall economic growth, showing a certain degree of non-rational element. JiaXing city is no exception. Trend of the real estate price grows too fast, not only affects the quality of life of urban residents, also causes unstable factors on the stable development of national economy, the issue of residential real estate price has become an important economic and social problems.This paper starts from the relevant theory of real estate price, mainly from the macro-economic financial and meso-industry supply these two points of view to analyze the possible factors that affect residential real estate price in JiaXing city. Based on real estate statistics of JiaXing city, using a combination of qualitative and quantitative methods, then establish econometric models, from an empirical perspective analysis the factors that impact on residential real estate price in JiaXing city. First, analyze the economic financial factors that impact on the residential real estate price in JiaXing city, come to residential real estate price in JiaXing city in the short term is more vulnerable to the impact of bank credit and interest rate. And the interest rate is mainly through the anticipation to impact on residential real estate price in JiaXing city, while the anticipation with a large uncertainty, which is the main reason to lead residential real estate price rises too fast in the short term. View from long term, residential real estate price greater impact by GDP. Subsequently, from the point of real estate industry supply view in JiaXing city to analyze supply factors and demand factors impact on residential real estate price. Supply factors, the residential completion areas with the minimal impact on price of residential real estate in JiaXing city; followed by construction and installation cost; land price; real estate investment is most significant impact in the residential real estate price in JiaXing city. Demand factors, the residential sales areas with the minimal impact on price of residential real estate in JiaXing city; followed by resident population; per capita disposable income of the most significant factor. Finally, this paper puts forward relevant policies and recommendations combined with empirical results obtained with the actual residential real estate market situations of JiaXing city. |
PDF Full Text Request