Abstract
Inventory management not only determines the health of the real estate market development, but also affects the regional economy and the capacity of sustainable social development. In this paper we use the DPSIR framework to integrate multi-dimensional influence factors, such as economic, social, and environmental factors, to construct a real estate inventory management performance evaluation and obstacle diagnosis model, and conduct an empirical study on 31 Chinese provinces and cities. The results show that: first, China’s real estate inventory is huge in size, with significant spatial heterogeneity and agglomeration; second, China’s real estate inventory management performance is unsatisfactory and still shows no improvement despite the strong policy intervention of the central and local governments; third, the obstacle factors of real estate inventory management are becoming increasingly diversified and complicated, with great differences among provinces—significantly, Profits of Real Estate Enterprises, Disposable Income of Urban Residents, Financial Revenue, Per Capital GDP, Resident Population, Gross Domestic Product, Total Retail Sales of Social Consumer Goods, Financial Expense, and Loans Balance of Financial Institutes are critical obstacle factors; and fourth, it is suggested that, on the basis of mastering the actual conditions of supply and demand in the real estate market, differentiated and precise response strategies should be formulated by integrating near-term and long-term goals, direct and indirect forces, and administrative and market instruments.
Highlights
In 2010, Guangdong and Liaoning were at the Higher level; Jiangsu and Beijing were at the High level; Sichuan, Heilongjiang, Shanghai, Henan, Hubei, Zhejiang, Shandong, and Chongqing were at the Mean level; Hunan, Inner Mongolia, Fujian, Jilin, Shanxi, Anhui, Hebei, and Ningxia were a the Low level; and Jiangxi, Xinjiang, Guangxi, Guizhou, Yunnan, Tianjin, Gansu, Shaanxi, Qinghai, Hainan, and Tibet were at the Lower level
Inventories of varying degrees can be found in real estate markets at present around the world, so it is of great theoretical and practical importance to reasonably evaluate inventory management performance and reveal its critical obstacle factors
With the help of the DPSIR framework, we constructed a real estate inventory management performance evaluation and obstacle diagnosis model based on multidimensional influence factors such as economic, social, and environmental elements, and conducted an empirical study on 31 provinces and cities in China, finding that the scale of real estate inventory in China is huge with significant spatial heterogeneity and agglomeration, the inventory management performance is unsatisfactory for a long time, the inter-provincial differences are large, and the inventory management barrier factors are becoming increasingly diversified and complex
Summary
Against the background of high inventory and high housing prices, the level of inventory management has become an important index reflecting the competition of real estate enterprises, the development of the industry, and the health of market operation, and has a significant impact on the sustainable development of cities and regions, and even the national economy and society. It has received attention from researchers in different disciplines such as land management, spatial planning, human geography, real estate economics, and business management [3]
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