Researches On The Dynamic Changes Of Supply,Demand And Prices Of First-Tier Cities’ Commercial Real Estate Market

Commercial real estate industry has a lot of profits, over the years, it has attracted many developers and investors to enter the industry. However, with the prosperity of our country’s commercial real estate market, the market has exposed more and more problems. First-tier cities are China’s most economically developed cities, their commercial real estate market has faced some particularly special problems which need to be resolved urgently.The narrow definition of commercial real estate is used for our research of first-tier cities’commercial real estate market. The study of the dynamic changes of supply, demand and prices of first-tier cities’commercial real estate from 2004 to 2013 has showed that the supply, demand and prices changed frequently. In recent years, the market generally maintained supply increasing, demand reduction trend, but, be affected by strong housing market regulation and easing monetary policy, commercial real estate prices has showed a rising trend. Based on the dynamic changes of supply, demand and prices, we find that there are many problems in the market’s development, such as the high inventory, the high price, the serious homogeneity and the misconduct role of the government.Then, from the perspective of commercial real estate supply-side factors, such as investment growth, developers’confidence, inventory, demand-side factors, such as population growth, per-capita disposable income, return on investment, as well as cost factors, the development trend of first-tier cities’commercial real estate supply, demand and prices in the future are analyzed in the paper. The conclusion has showed that the supply, demand of first-tier cities’commercial real estate market will gradually increase and the prices will run smoothly or decrease slightly in the future. Lastly, based on the problems existed in the market, the paper put forward the corresponding countermeasures and suggestions to promote the smooth operation of first-tier cities’commercial real estate market from the aspects of the government’s macro intervention, commercial real estate companies’development and investment and properties investment.