The Impact of Land Banking System on the Price of Real Estate in ...

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?Abstract? In recent years, the rapid increase of house prices has been paid great attention by the society. In the discussion of the basic reason of increase in real estate prices, the relationship between the Land reserve system and house prices has given rise to the controversy and more public opinions attribute the price growth to the implementation of Land reserve system. Indeed, the land reserve system as the important way of the country?s macroscopic readjustment and control with real estate market has closely related to real estate market. But it need to be deeply studied about whether the system is the main reason for leading to the increase in house prices. Because it directly refers to the future development and perfection of land reserve system in our country?s cities. Thus, it has important practical significance in discussing and studying the influence mechanism of land reserve system on house prices.Based on the reading of the related articles at home and abroad ,the article analyzes the effect of house prices in zhengzhou arisen by land reserve system by way of grasping the forming principle of the land and house price. This article firstly analyzes the effect of land reserve system on land price in zhengzhou and draws the conclusion that the transfer mode of?Recruit pat hung?could result in the increase of land prices that really reflect the land value rather than the inner system of prompting land price rise, in the mean time which denies the conclusion that the insufficiency of the supply of land leads to the increase in the land price.Secondly, the article analyzes the effect of the land reserve system on the realty in Zhengzhou, that is,increasing the price of profit-oriented land, prompting the survival of the fittest in real estate development enterprises, strengthening customers?price expectation. In addition, the article analyzes the effect of the land reserve system on the house price in Zhengzhou. And based on a great many collected data, the article draws the conclusion by utilizing the analysis of economic relations??ath relations and Granger causality test between house prices and land prices. which is that the relationship between house prices and land prices inside certain limits is interaction and interplaying. The relationship between house prices and land prices is positive correlation basically, The fabrication cost,taxes and cubage will decide the extent of effect of the land reserve system on the house prices. The increase in house prices is not the inner system of the increase in land prices,but just one of main reason of the increase in house prices. Besides, using a great many newer data and chart and closely combining the current situation of the reality market in zhengzhou, the article makes a qualitative analysis the reason of the increase in house prices in zhengzhou, and draws the real reason of effecting house prices in zhengzhou such as the increase in Land acquisition cost,increasing building material prices,boosting customers?price expectation,the increasing ratio of home buying of outsiders in Zhengzhou,the composition of rigid demand and speculative investment demand,the increasing inflationary expections and so on. Then in order to testify the accuracy of analysis Results,the article makes quantified study the reason of the increasing house prices in Zhengzhou, and futher testifies the exactness of analysis results.Finally,the article gives some advice on controling the housing price in Zhengzhou from points of the land reserve system improvement and innovation of land supply,thus regulating the real estate market and increasing market transparency to guide the consumer?s psychological expectations and achieve efficient allocation of estate resources.

Title: The Impact of Land Banking System on the Price of Real Estate in Zhengzhou City
Category: Management economics
Filename: The Impact of Land Banking System on the Price of Real Estate in Zhengzhou City.doc
Pages: 138
Price: US$38.00
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Source: http://www.economics-papers.com/?p=21756

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