Research on Influencing Factors of the Real Estate Market in Beijing

Abstract

As a large-scale real estate industry, the real estate industry plays an important role in regulating the world economy. As a pillar industry in my countrys development, it plays an important role in promoting my country's GDP growth. Consumption and investment demand for real estate also have a significant impact on overall consumer demand. Many scholars at home and abroad have conducted relevant research on real estate demand factors. This article uses annual data from the China Bureau of Statistics and Beijing, selects Beijings GDP, per capita disposable income of all residents, etc. as explanatory variables, and uses the commercial housing sales area sarea as the explained variable. A multiple regression model was established to analyze the influencing factors of Beijing's real estate market demand. The results show that policy, income, population and housing price factors have a significant impact on demand. Among them, GDP, population change, and policy dummy variable factors have a positive impact, while housing prices and per capita income have a negative impact. Based on the conclusion, this article puts forward suggestions for narrowing the income gap, further curbing real estate speculation, maintaining a balance between supply and demand, paying attention to policy regulation, and using precise and powerful policies to regulate the entire industry, which has served as a reference for the development of the real estate industry.