Empirical Research On The Effect Of Real Estate Policy Based On Baidu Index

This article synthesizes the real estate policy search index through the Baidu search index,thus carries on the quantification to each kind of real estate control policy.The data time series of this paper is from January 2013 to December 2018,which is a complete policy range from tight to loose to tight in the history of real estate policy control.This paper uses OLS model and Var Model to study and compare the relationship between price and policy search index of new commercial housing in 100 cities.The results show that:1.The Real Estate Policy Search index has a significant impact on the price of commercial housing in cities,and the financial,tax,administrative,social housing and population policies have a significant impact on the price of housing in first-tier cities;The policies that have obvious effect on the price of commercial housing in second-tier cities include finance,taxation,social housing and population policy Financial Policy,tax policy,land policy,housing policy and population policy have obvious effects on the price of commercial housing in the third and fourth-tier cities.2.There are regional differences in the effects of different types of real estate policies,and financial policies have a greater impact on housing prices in all line cities.We can believe that in the long run,the healthy implementation of financial policies is conducive to combating real estate speculation To promote the development of the real estate market.The tax policy have a great influence on the house price of the first-and second-tier cities.The tax policy directly affects the tax cost of the real estate transaction.The land policy has a great influence on the house price of the third-and fourth-tier cities,but not on the first-and second-tier cities.Administrative policy has a great influence on the first-line cities.As the hand of the government,administrative policy directly intervenes the market,which is a very important tool of policy control.The positive effect of the housing policy in the first-tier cities is significant,and it has a restraining effect on the housing price in the third and fourth-tier cities.The population policy has certain influence in each line city,the population takes the influence house price the long-term variable,the short-term control effect is inferior to other policies more immediate effect.3.The results of OLS model and Var model are not completely consistent,which shows that the policy variables affecting house prices are complex and diverse.Finally,the paper combined with empirical conclusions for the healthy development of China’s real estate market to put forward some policy recommendations.