An Empirical Study On The Factors Affecting The Housing Price Of Real Estate

Chinese national economy has experienced growing rapidly,the development of Chinese real estate has also gone into a new level.But the prices of the real estate housing rising too fast,so that it lost the balance between the income and natural,increased the likelihood of financial risk events,and it also would make against to the the healthy development of economy and social harmony and stability in China.Chinese government departments have already recognized these,and many policies have released to stabilize the real estate.But these policies and measures can not be a move effective.The key point to curb the real estate industry over-growth is to fully understand and analyze the factors that affect the price of real estate housing.Therefore,this paper will also seize this key point,start to research the factors influencing the real estate housing price,hoping to initiate,in order to contribute to solve a series of issues the current real estate market.Firstly,this paper introduces the relevant concepts and characteristics of real estate,and relevant classical theory of the real estate prices.Then,it summarizes the basic situation of Xiamen real estate market,and introduces the development process of Xiamen real estate market and the trend of the real estate price.Secondly,this paper analyzes the impact of monetary policy factors such as money supply and loan interest rate on the real estate price in Xiamen from the macro level.From the middle level.Then it analyzes the supply and demand factors affecting the demand for residential real estate prices in the city from the meso level,such as land prices,construction costs,real estate development investment,GDP,population,income level of urban residents and so on.Then,it shows that the price of real estate in Xiamen is influenced more obviously by the expected factors and money supply factors in a short time and is more affected by interest rate factors in the long time through the empirical analysis of the influence of monetary policy on the real estate price in Xiamen using vector autoregression empirical analysis.After that,it analyzes the influence of supply factors and demand factors on real estate price from Xiamen real estate industry supply and demand with multiple linear regression method.The result shows the investment amount of real estate development has the most significant influence on the price of real estate in Xiamen on the supply side,and the resident population has the most significant influence on the price of real estate in Xiamen on the demand side.Finally,it puts forward policy recommendations to Xiamen City real estate housing price.Monetary policy recommendations include addressing regional imbalance problems of currency distribution,prudently using of interest rate adjustment policies and the implementing of differential housing credit policies;and from the supply and demand of the real estate,it should moderate the amount of investment in real estate development,reasonably control of the population of the city to optimize the population distribution.The results of this study can provide a reference for government departments to formulate macro-control policies,support the real estate development enterprise operation and real estate of credit management of bank,and provide information support for buyers.