Analysis On The Influential Factors Of Commercial Residential Demand In Wuhan City

Housing industry as an important component of the real estate industry is closely related to the national standard of living. Housing demand is one of the basic human needs; commercial residential is one of the human necessities. Because of its particularity, the commercial residential has the dual attributes of economic and social. The development of the housing industry and the price of the commercial residential impact on the level of national life quality. With the development of social economy and the improvement of people’s income level and the implementation of the urbanization, the level of demand for commercial residential gradually increase, the requirement for commercial residential quality also gradually improve. In the process of the development of social economy, the development of housing industry is more and more important. Properly solve the problems of commercial residential demand is not only beneficial to the sustainable development of national economy and is beneficial to people’s livelihood and social stability.The influential factors of commercial residential demand, in general, the answer can be divided into two big aspects, economic and noneconomic.In this paper, at beginning, we have carried on the qualitative analysis about the general influential factors for the Wuhan city commercial residential demand from two aspects of economic and noneconomic. Then selected some quantifiable factors from those general influential factors, according to the statistical data from year1999to2013in Wuhan city, using the amount of commercial residential sales as the reference sequence through the calculation of grey relational degree of variable analyses the influence degree of those quantifiable factors. Then on the basis of the theory of new classical residential, with the assumptions of commercial residential coessential properties, we put forward a model of the residential coessential demand. With the amount of commercial residential sales as the dependent variable, the quantifiable factors as independent variables, using the least square method, finally proved that the three factors-the urban per capita disposable income, the sales price of the commercial residential and the five-year loan interest rates was strongly associated with the amount of commercial residential sales in Wuhan. It also illustrated that the demand of commercial residential and urban per capita disposable income were positively correlated meanwhile, the demand of commercial residential were negatively correlated with the sales price of the commercial residential and the five-year lending rates.With the help of the analysis and calculation of the factors which affected the commercial residential demand, we can find out which influential factor is most relevant to the commercial residential demand in Wuhan. It is good for grasping the characteristics and development trend of the commercial residential demand in Wuhan. Also, it would help forecast the commercial residential demand in Wuhan. It has practical guiding significance to the consumers, the real estate investment and the government.