Research on the Impact of Land Supply Structure on House Prices——Taking the New First-Tier Cities as an Example

Abstract

AbstractResearch purpose: Empirically analyze the impact on land supplies structure of housing prices with the new first-tier cities as the research object. Research method: Collect the statistical data onto 15 new first-tier cities from 2009 to 2018 to construct a panel data model, and use stata15 measurement software to perform regression analysis on the impact on land supplied structure of housing prices. Research results: The land supply structure does have an impact on the sales price of commercial housing. The empirical results show that for every 1% increase in the proportion of residential land supplies, house prices will drop by 0.163%; for every 1% increase in the proportion of industrial land supplies, house prices will increase by 0.126%; For every 1% increase in the supplies of land for infrastructure, house prices will rise by 0.03%. Research conclusions: In order to stabilize urban housing prices and achieve healthy and high-quality development of the real estate market, it is necessary to scientifically and reasonably determining the land supply ratio, formulate land supplied plans according to the real estate market conditions in different regions, optimize the land supply structure, adapt measures to local conditions, implement policies in accordance with the city, and realize the rational allocation of land resources. In response to the current imbalance of land supply, without affecting the market operation, increase the proportion of residential land supply, reduce the proportion of infrastructure and industrial land supply, promote the balance of supply and demand, and ensure effective market supply. In addition, housing prices is affected by multiple factors. While adjusting the proportion of land supplied, other factors must also be controlled, working together in many ways, to effectively intervene and regulate the real estate market.KeywordsLand supplies structureReal estate pricesPanel dataEmpirical analysisNew first-tier cities