A Study On The Factors Of Urban Housing Prices In China

China's real estate is an important industry in respect of the national economy.Since the imbalance of regional development, housing prices are quite different between domestic cities, particularly remain high for long in some cities, which triggering a series of social and economic problems.The study on factors influencing urban housing prices and the reasons behind the gap between urban housing are important for our country to implement real estate macro-control,maintain stable economic development and protect the livelihood.Firstly,this paper analyzes the factors of urban housing prices from both sides of demands and supply and discuss the formation mechanism of high prices in some cities, in relation to current situation of our country.And then I seek different factors between cities from the perspective of urban functions,and divide urban functions into internal functions and external functions depending on different directions of the services.At the same time,based on the principal component analysis,and using the data from 94 cities of our country, internal function index of all cities are established by integrating the city's political, cultural, educational, health, recreation, transportation,ground environment, air environmental factors and so on.This paper conduct empirical analysis by combining internal function index with the income level, population size,residential land supply area of sample cities.The results present that income level,population size and urban internal functions have significant positive impact on housing prices, conversely,the supply of residential land to have a significant negative impact on housing prices.At the end of this paper,based on the results obtained,I give some advice to our government. In order to establish a long-term mechanism to control urban housing prices in a reasonable range and reduce the differences between urban housing prices,we should fundamentally reverse the situation of the imbalance of the regional economicdevelopment and the relative concentration of social resources.