长三角房地产市场的价格差异及决定因素

城市的房地产价格能充分反映所在地区经济发展水平、人口集聚、资金流动和居民的消费偏好等有关信息.长三角城市群房地产市场显现较明显的体系分层结构,为研究房屋价格差异的决定因素提供了很好的素材.文章用长三角16个城市2000-2004年房地产市场的数据,揭示了需求差异是决定长三角地区城市间房屋价格差异的主要因素.其中,城市之间在居民人均收入和非农人口比例的差异又是决定各个城市对住房存在不同需求的主导因素.然而,我们同时发现,人均房屋竣工面积等供给因素对房屋价格并没有显著的影响.这说明当前长三角城市群的房地产市场价格差异主要由需求因素决定,供给因素起到的作用较弱.

THE DETERMINANTS OF URBAN HOUSE PRICES DIFFERENCE IN YANGTZE RIVER DELTA

The prices of urban residential housing are very informative of local socio-economic development conditions.Since the structure of urban housing system in the Yangtze River Delta ideally follows the rank-size rule,it constitutes a good example to analyze what are key determinants of variations of urban housing prices across different cities.Employing a panel data collected from the 16 cities in the Yangtze River Delta between 2000-2004,and using up-to-date econometric tools,this papers concludes that the urban housing prices in this region is primarily determined by demand-side factors.The growth in the per Capita disposable income(or total income) of urban households and non-agriculture population proportion ratio are the major driving forces of the demand for urban housings.At the same time,this paper suggests that key supply-side factors such as gross floor space sold per capita don't have determinant influences on local housing prices in the Yangze River Delta area.