Analysis Land Reserve Behavior Impact On The Land And Real Estate Market

Land is the foundation of a city’s development and the important carrier for human being survival,thus it is necessary to make comprehensive use of urban land in the process of urbanization.Under the socialist market economy system of Chinese characteristics,China has adopted the measures of transferring the right of state-owned land to the successful bidder to develop and construct for a certain period of time.In order to allocate land more reasonably,improve the utilization rate of land,obtain higher income and regulate the land market more effectively,a land banking mechanism has been established with the core of compulsory government as well as public welfare.Within the scope of government authorization,land shall be brought into the urban land reserve treasury through acquisition,recall,replacement,expropriation,demolition and other specific land reserve activities according to the overall planning of urban space.After the unified implementation of land consolidation,the government will supply land in a planned way through public transfer to ensure that the land market is stable and controllable.Due to the fact that China has not legislated the specific operation method and model of land reserve at the national level,and different areas are in different development stages and development models,various problems will arise inevitably in the implementation process.The problems mainly lies in the following aspects: land reserve plays an important role in the land market and real estate market in the implementation process,whether the land capital dividend is obtained by the government or speculators and so on.Taking urban land banking mechanism as the main line,this paper makes theoretical probing into some areas: the formation and development of land reserve mechanism operation;the land reserve mechanism research status at home and abroad.It not only carries on the empirical analysis to the operation of the mechanism and the process implementation of Longhai city land purchase and reserve,but makes hypothesis analysis and conclusions of the impact of land reserve under the land reserve mechanism.In the link of empirical analysis,the principal component analysis method is firstly used to study,and then Granger test is used to reveal the relationship between the land market and the real estate market.Longhai city’s GDP,population,construction value added,per capita disposable income of urban residents,average land price are selected as the influencing factor of land transfer price.The release time of land reserve policy is also introduced as the value of dummy variable to fit the multiple linear regression model of land price and the multiple linear regression equation obtained shows that the land reserve behavior is positively correlated with the land market price.According to the constant value of policy factors,land reserve behavior will play a certain role in the rise of land price,but it does not play a decisive part.Meanwhile,according to the commonality test,the influence factors such as the total per capita disposable income of urban residents,the total population and the gross product will also affect the change of land market price.In conclusion,the land reserve mechanism,as a means for the government to actively intervene in the market,is aimed to make up for market defects through government coercive force rather than simply replace the market mechanism;Only when the land banking mechanism is established under the sound laws and regulations can it form a perfect land use and management system to guarantee the normal operation of the land market;The development scale and development mode of each city in China are fundamentally different,that is to say,the government of Longhai and the Land Banking Institution must be based on their own reality and establish an effective land banking mechanism in line with the local actual situation.At the same time,a balance should be struck among the maximization of economic benefits,the maximization of social welfare and ecological benefits.Only in this way can we achieve to develop diversely,promote the reform of land market comprehensively and deeply,and serve the urban economy better.