Analysis On The Housing Price Diversity And Influencing Factors Of The Pearl River Delta

Since the reform and opening up,with the gradual deepening of the reform of the market economy system,the real estate industry has risen.With the development of the real estate industry,it has become an important driving force for the rapid development of China's economy and has become a pillar industry of China's national economy.It plays a vital role.However,the over-rapid rise in house prices has also led to a series of problems in China's real estate market and the macro economy.Whether or not they can effectively curb the rise in real estate prices and promote the sustained and healthy development of the real estate industry,as it's an important factor in the steady growth of China's economy in the future.At the same time,as an indispensable part of life,the continued healthy development of the real estate market is also related to the people's livelihood of the country,as well as whether our Chinese dream can be successfully achieved.Pearl River Delta region,as one of the regions with the most powerful economic strength in China,the process of commercialization of real estate started earlier and the real estate market developed more maturely.Therefore,the influencing factors of residential real estate prices in the Pearl River Delta region were studied,and the price influencing factors in the regional real estate market were analyzed in depth.And its internal differences have important practical significance for the government to effectively regulate and control real estate policies and promote the smooth and healthy development of the real estate market in the Pearl River Delta region and even the whole country.This article aims to analyze which factors influence the residential price in the Pearl River Delta region and the differences in residential prices in the nine cities in the Pearl River Delta.First of all,this article analyzes the residential real estate market in the Pearl River Delta region from two levels.The first level is summary the status and analysis the differences of the residential real estate market in the Pearl River Delta region,including the rapid shift from development to stability,the suppression of market demand,and supply.The structure has been gradually adjusted,the housing prices have continued to rise but the internal differentiation has intensified,and the market has standardized five characteristics.The second level compares and analyzesIV the differences in residential prices in nine cities in the Pearl River Delta region,and finds that there is a large difference in the prices of residential houses in cities and the gap is increasing.Secondly,starting from demand factors,supply factors,policy factors and economic factors,using residential prices as the research object,we analyze the influencing factors of residential prices from a theoretical point of view.Through analysis,the influencing factors are summarized as follows:Demand factors include population size,residents' purchasing power,and consumption.Psychological expectations,alternatives market;supply factors include residential development costs,supply willingness,real estate investment scale,supply side psychological expectations;policy factors include land control policies,financial control policies,fiscal and taxation control policies;economic factors including per capita GDP,urbanization Level.Finally,through an empirical analysis of residential prices in 9 cities in the Pearl River Delta region,the average selling price of residential commercial housing was used as the explanatory variable,population size,per capita disposable income,consumer expectations,residential housing completion area,residential real estate development investment,and per capita GDP is an explanatory variable,and a regression model was established using panel data of nine cities from 2003 to 2016.The conclusions are as follows:There are significant differences in the prices of residential houses in 9 cities within the Pearl River Delta region.The influence of population size,consumer expectations,completion of residential real estate development investment,and per capita GDP on residential prices is significant and positively correlated.The area of completed residential homes has a significant negative correlation with residential prices.In order to further analyze the effects of six influencing factors on individual differences in nine different cities in the Pearl River Delta region,this paper revises the variable coefficient model of the panel data and finds that the impact of the same influencing factors on nine cities is different,such as population In the analysis of the influence degree of residential prices,the population of all cities is positively correlated with the prices of residential houses,but there are differences in the degree of influence.Among them,Shenzhen City's population has the most significant impact on residential prices,and the population of Zhuhai,Huizhou,and Dongguan is the most important factor in housing prices.The impact is not significant,indicating that the influence factors of different cities withinthe Pearl River Delta region are generally consistent while there is a certain degree of internal differences.