The Influence Factors Of Commercial Housing Market Price Research In China

This article fully discusses the factors influencing residential commercial housing market price after selecting 29 cities among China's seventy large and medium-sized cities between 2002 and 2014 for individual samples,and is divided into first-line,second-line,and third-line cities studied respectively.The actual sales price of urban commercial houses in permanent population quantity,housing price,residential commodity house completion area,residential housing construction investment to complete the forehead,urban per capita disposable income,money supply,more than five years in legal benchmark lending rate are basic variables,using panel data model and error correction,respectively to get supply variable factors changes,changes in demand factors and monetary policy factors on the residential housing market price affect the long-term equilibrium and short-term fluctuations,and to analyze the reasons for significant influence factors.The degree of urban land supply limitation is different which leads to first-line,second-line cities housing prices significantly.Different degree of information asymmetry affects the third-line cities.Regional population agglomeration effect leads to the difference of demographic factors.Speculative demand leads that income effect is not significant.The wealth effect leads to the difference of money supply.The loan interest rate elasticity of supply is greater than demand,which leads that interest rates are positively correlated.And put forward adjust measures to develop on the basis of land supply,formulate regional interest rate policy,guide public rational purchase.This article innovation lies in selecting individual robustness inspection after the fixed effect panel data model to show the accuracy of the model.And after the empirical analysis,combining the domestic scholar's research and the present situation in our country,analyze the reasons from the empirical results.