Analysis of Factors Affecting the Housing Price in Different Cities of China and Macro Control Measures

DOI

10.2991/iserss-18.2018.43How to use a DOI?

Keywords

Housing Price, Difference of Housing Markets, Macro Control Measures,Supply,Demand

Abstract

In response to the rapidly rising of house prices in major cities across the country, the central and local governments at all levels have implemented multi-round home buying restriction policies since the end of 2016. Although the effectiveness of these policies is obvious at present, their impacts are lack of sustainability, and they are not conducive to the long-term development of the real estate market. Only by the in-depth analysis of the root causes of rising house prices in different types of cities and the macro-control policies of developing differentiation, can the real estate market in China achieves sustainable development. Based on the classical supply-demand theory, this paper studies the main influencing factors of house prices in the first, second and third tier cities by using gray relational analysis and principal component regression analysis. The results show: housing prices in the first-tier cities is a typical demand-pull housing prices; Second-tier cities housing prices is mainly affected by demand factors, but the influences of some supply factors are gradually increasing at the same time; Third-tier cities housing prices is simultaneously affected by a number of the supply and demand factors, which is the most complex situation. Therefore, the macro-control policy and the construction of supporting mechanism must also reflect this difference of cities.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xue Ding
AU  - Ran Huang
AU  - Xue Wang
PY  - 2018/07
DA  - 2018/07
TI  - Analysis of Factors Affecting the Housing Price in Different Cities of China and Macro Control Measures
BT  - Proceedings of the 2018 International Seminar on Education Research and Social Science (ISERSS 2018)
PB  - Atlantis Press
SP  - 161
EP  - 168
SN  - 2352-5398
UR  - https://doi.org/10.2991/iserss-18.2018.43
DO  - 10.2991/iserss-18.2018.43
ID  - Ding2018/07
ER  -