A Study On The Sustainable Development Of The Real Estate Industry In Shandong Province

As the basic industry in our country, the real estate industry is related to thecountry’s economic lifeline, and has profound effect on the social stability anddevelopment. Regional economy exerts a huge push on the development of the realestate industry, which shows strong regional features. With a strong driving force, thereal estate industry related to numerous relevant industries plays an important role inthe local economy. Now China is at the hard time of comprehensively deepeningreform period, and at an important threshold of the economic transformation. With thefurther adjustment of economic structure and slowing speed of the national economygrowth, China will have higher requirements for the quality of the country’sdevelopment, which makes it very necessary to have a study on the development ofthe regional real estate industry, especially for the sustainable development. Since1998, the real estate industry in Shandong province has gradually realized thecommercialization, entering the stage of rapid development, which plays a strong rolein driving economic growth. But it is also compared with problems such asoverheated increase of housing price and the real estate bubble. Therefore, the studyof real estate industry in Shandong province has important practical and theoreticalsignificance.By analyzing the relevant theory about the real estate industry, especially aboutthe sustainable development, this paper summarized the content of sustainabledevelopment of real estate industry and explained in three aspects: developmentaftereffect, development coordination and development crisis. The index system forsustainable development of the real estate industry was constructed according to theselected design associated with12indicators from this paper, which was analyzed byusing the principal component analysis (PCA) approach and did the real estateindustry sustainable development evaluation based on theory of normal distribution.According to the basic data analysis of the provincial real estate industry from2003to2012in Shandong province combined with the variation analysis data of every city,this paper concluded the factors that restrict the development of the real estateindustry in Shandong province. And finally this paper put forward some measures topromote the sustainable development of the real estate industry in Shandong province.The main body of this paper is divided into six parts: the first part is the literaturereview about the sustainable development of the real estate industry at home andabroad; the second part is the exposition of the related connotation and the theory ofthe real estate industry and sustainable development; the third part is a generalanalysis of the real estate industry in Shandong province, using the descriptivestatistical methods to analyze the development course, current situation andcharacteristics of real estate industry development in Shandong province; the fourth part analyzed the sustainable development of the real estate industry in shandongprovince from2003to2012using the factor analysis model and the principalcomponent analysis(PCA), and by using the principle of normal distribution dividedthe real estate industry in Shandong province into three stages: the stable developmentperiod (2003-2007), wave period (2008-2010) and optimization of period (2011-2012).Then by using the data in2012this paper carried on the variance analysis and studiedthe current regional differences of the cities on the sustainable development of the realestate industry of the17cities in Shandong; combined with the qualitative andquantitative analysis of above the fifth part analyzed the limiting factors for thesustainable development of the real estate industry in Shandong province, mainly oncommodity housing price, the structure of the real estate development, real estate loanfinancing, commercial housing vacancy and the regional difference; aimed at theproblems existing in the sustainable development of the real estate industry inShandong province, the sixth part put forward measures to improve and promote thesustainable development of the real estate industry in Shandong province: the firstmeasure is to implement the concept of sustainable development and improve thepolicy of land supply, the second measure is to improve the mechanism of real estatefinance and guarantee the real estate financing, the third measure is to optimize thestructure of housing supply and accelerate the construction of housing security system,the forth measure is to adapt to the level of economic development and reduce thevacancy.