Research on the Effect of Land Transfer Mode on Land Price in Changsha

Abstract

AbstractIn recent years, Chinese land prices have maintained a rising trend, the central government has repeatedly emphasized that we must not forget that “houses are for living in, not for speculation”, and we also stabilize land and housing prices as well as market expectations. Different land transfer modes have been implemented to strengthen the management of land supply plans, such as “limited housing price and competitive land price”, “limited land price, competitive policy housing area”, “limited housing and land price” and so on. In the process of real estate market regulation, experts and scholars have always focused on the relationship between land transfer mode and land price. First of all, this paper systematically discusses and sorts out the land transfer mode and land price-related theory as the theoretical basis for empirical analysis. Then I expound on the evolution of the land transfer modes in recent years. On this basis, taking Changsha as an example, the land transfer modes like “limit housing prices, competitive land prices” and “limit land and housing prices” have a role to play in policy effect. And this paper explores whether Changsha’s land transfer modes can effectively restrain the trend of the land rising price. Through the establishment of a Hedonic model and multi-regression analysis, it was found that Changsha can effectively curb the rising land prices by combining single-limit and double-limit land transfer policies. This shows that the stricter the land transfer mode, the greater the impact on the price of land. And finally, the corresponding proposals and measures were put forward to formulate more reasonable measures for other local governments.KeywordsLand transfer modesHedonic modelLand price