A Study On The Impact Of China 's Interest Rate Marketization On Real Estate Price

With the advancement of marketization of housing reform and urbanization speed up the pace of reform, the real estate industry has become a pillar industry of the Chinese economy, has a significant role on economic growth. With rapid development of China’s real estate industry, real estate prices overall rose obviously. Because of real estate industry supply and demand and interest rates are closely linked, in the backdrop of the finishing process of China’s market-oriented interest rate, interest rate changes will not only for buyers purchase cost and great impact on investment preference, but also will affect the financing cost of real estate development enterprises. Therefore, interest rate liberalization will be on the real estate supply and demand, in turn, impact on real estate prices.Induction and summary is presented in this paper, on the basis of relevant research data at home and abroad, first of all, from the two aspects of supply and demand analysis of the determinants of house prices, and in the interest rate conduction theory under the framework of analysis of house price fluctuations in interest rates changes, theoretically in this paper, the law of real estate prices may change after interest rate liberalization. Secondly, based on the analyze of the development of China’s current interest rate liberalization reform and real estate prices on the basis of the status quo, using index analysis and empirical analysis from two aspects of the real estate supply and demand analysis of the influence of interest rate liberalization of China’s real estate prices. Think at due to the particularity of real estate industry, the interest rate sensitivity to the supply of real estate, less than the sensitivity of demand to interest rates, so in the real estate supply and demand both sides work together, at the beginning of the liberalization of interest rates, short-term interest rates will lead to rising real estate prices fell. Finally, in order to stabilize the real estate market price, this article suggested that the government department from monetary policy, tax policy and the information statistics of formulate relevant measures.