Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Series Vol. 49 , 01 December 2023


Open Access | Article

Analysis of Regional Differences and Influencing Factors of Real Estate Prices: An Empirical Study Based on 31 Provinces in China

Liu Xiaodi * 1
1 Nankai University, Haitang Street, Tianjin, China Department of Finance

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 49, 137-143
Published 01 December 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Liu Xiaodi. Analysis of Regional Differences and Influencing Factors of Real Estate Prices: An Empirical Study Based on 31 Provinces in China. AEMPS (2023) Vol. 49: 137-143. DOI: 10.54254/2754-1169/49/20230502.

Abstract

Currently, the continuous rise in housing prices in China has brought about social issues regarding housing fairness. Therefore, it is of practical significance to study the influencing factors of China's real estate prices and the effects of these factors. This article first identifies ten variables that have a significant impact on housing prices through analysis, and then conducts empirical analysis separately for the eastern and central-western regions. Based on the correlation and model multicollinearity tests, two corresponding models are established. Subsequently, this article uses a multiple linear regression model for regression and uses a test set to verify the model's effectiveness, conducting quantitative analysis. Combining the analysis results, the factors that have a significant impact on housing prices in the eastern region of China are identified as the sales area of commercial housing, rental prices, and unemployment rates. In the central-western region, the factors with a significant impact on housing prices are disposable income and real estate development costs. Based on these conclusions, this article proposes relevant policy suggestions, which are expected to provide a basis for differentiated macro-control policies by the government.

Keywords

real estate prices, regional differences, impact effect, multiple linear regression

References

1. Fang Changchun. Historical and Social Impact of the "98 Housing Reform": Based on the Perspective of Benefit Differentiation. Social Science Digest, 2020, No. 54(06): 59-61.

2. Wang Tongxu. Dynamic Adjustment of First Home Loan Interest Rate Policy. China Business News, 2023-01-10 (002).

3. Zhang Ying, Gui Jin'ai. The Truth and Reflection on the Proportion of China's Land Cost in Housing Price. National Business Situation (Theoretical Research), 2013, No. 1956(06): 24-25.

4. Yi Ying, Liu Meiling. Regional Differences in the Factors Influencing Housing Prices in China. Times Finance, 2019, No. 747(29): 45-46+57.

5. Yu Xiaodong. Is the Current Housing Bubble in Chinese Cities Already Too Large? - An Analysis Based on the Comparison of Renting and Buying Costs in 27 Sample Cities. Economic World, 2021, No. 156(06): 3-9.

6. Xu Huijie. The Influence of Industrial Structure and Population Density on Housing Prices in New Tier-1 Cities. (Master's thesis). Shenyang Jianzhu University, 2022.

7. Zhang Lu. Analysis of Property Tax and Housing Rental Prices. (Master's thesis). Shanghai University of Finance and Economics, 2020.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
ISBN (Print)
978-1-83558-145-2
ISBN (Online)
978-1-83558-146-9
Published Date
01 December 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/49/20230502
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated