Content of 房地产经济研究 in our journal

Published in last 1 year |  In last 2 years |  In last 3 years |  All Please wait a minute... For Selected: Download Citations EndNote Reference Manager ProCite BibTeX RefWorks Toggle Thumbnails Select Regional Differences on Income Distribution Effects of Price Fluctuations: Empirical Study Based on inter-Provincial Panel Data in China ZHANG Chuan-Yong Journal of East China Normal University (Philosoph    2014, 46 (1): 113-120.   Abstract （680）   HTML （6）    PDF （841KB）（1962）       Knowledge map    In recent years, housing prices continued to rise, especially with rapid growth rates periodically in some areas. This phenomenon and its possible economic and social problems caused widespread attention. Based on the inter-provincial panel data of 27 provinces in central, eastern and western regions of China in 2000-2010, we found that regional income disparities and the rate of change of housing prices exists co-integration relationship. Further, our results show that distribution effects of housing price fluctuations have obvious regional differences by LSDV method, that is, income gaps and housing prices fluctuations have positively correlation in eastern and western regional ,but the correlation is not obvious the central region. Therefore, in addition to the real estate macro-control policies to curb speculative demand, we should focus on solute the widening income gap and other social problems which produce by housing prices fluctuations, and should be treated differently in different areas. Related Articles | Metrics Select Real Estate Rental Market and Tenure Choice Mechanic of Real Estate Market  ——Based on Empirical Analysis of Residential Market in Developed Countries CUI Pei, HU Jin-xing and ZHOU Shen-long Journal of East China Normal University (Philosoph    2014, 46 (1): 121-127.   Abstract （726）   HTML （6）    PDF （1315KB）（2090）       Knowledge map    This paper is engaged on theoretic study and empirical analysis of the function of rental real estate market to real estate tenure choice mechanics by the international comparison of rental housing market in main developed countries and co-integration test of the house price index and residential rental index in US and Germany. It’s disclosed that in the countries with mature rental housing market, there are housing tenure choice mechanics which forces the house prices keep away from more fluctuation under the restriction of rental. In China, the rental housing market is hardly mature. That’s one of the main reasons of lack of the mechanics for housing market to adjust its movement itself in China. Chinese government ought to improve its administration by focusing on that. Related Articles | Metrics Select On the Impact of Interest Rate Fluctuation on the Housing Prices in the Framework of Partial Balance Analysis SHI You-wen, WANG Ming-fu and LIN Xiao-hong Journal of East China Normal University (Philosoph    2014, 46 (1): 128-137.   Abstract （692）   HTML （8）    PDF （581KB）（1879）       Knowledge map    Based on the structure of consumers in the real estate market, this paper constructs a theoretical mode that balances partially the property purchasers and developers and investigates the impact of interest rate fluctuation on the housing prices. The result shows that the impact of interest rate fluctuation on the housing prices depends on the structure of purchasers. When the number of purchasers who get loans from banks is larger than the critical point, the increase of interest rate causes the decrease of housing prices. The GMM estimation of the panel data of China’s 35 large and middle sized cities in 2000-2012 shows the actual interest rate fluctuation in a short term has a reverse relation with housing prices. Although the impact is weak, it verifies the conclusion of our theoretical analysis. Empirical tests also find out that other macroeconomic variables, including policies and world economy, have remarkable impacts on housing prices. Therefore, the interest rate policies should be implemented with other measurements in order to regulate and control the real estate market. Related Articles | Metrics Select On the Differentiation of Housing Price to Income Ratio in Chinese Cities DING Zu-yu Journal of East China Normal University (Philosoph    2013, 45 (3): 121-127.   Abstract （1351）   HTML （413）    PDF （908KB）（3464）       Knowledge map    As an important index that measures whether the housing price matches people’s income, housing price to income ratio has strong regional characteristics. The housing price to income ratio varies in China’s different cities. This thesis uses the rank-size analysis method to study the major trends of housing price to income ratio of 287 Chinese cities from 2006 to 2010, and then uses the principal component analysis and cluster analysis methods to divide Chinese Cities into five types and analyzes the detail of this ratio in each type city. The result shows that: (1) The differentiation of housing price to income ratio in Chinese Cities shows a trend of expansion from 2006 to 2010, and big cities’ ratios rose more obviously. (2) From the first-tier cities to the fourth tier cities, housing price to income ratio showed a downward trend; (3) Resource-based cities’ housing price to income ratio was between the third-tier cities and fourth-tier cities. (4) Regression analysis shows that urbanization rate had positive influences on housing price to income ratio, but GDP had weak positive influence. Related Articles | Metrics Select The Relationship between Real Estate and Financial Industries Based on I-O Model: Empirical Research on the Case of Yangtze River Delta XIE Fu-quan & HUANG Jun-hui Journal of East China Normal University (Philosoph    2013, 45 (3): 128-136.   Abstract （1066）   HTML （13）    PDF （431KB）（2147）       Knowledge map    It is crucial to quantize the relationship between real estate and financial industries and to make countermeasures against existing drawbacks for their development. Taking Yangtze River Delta as an example, using the input-output analysis to quantize the relationship between real estate and financial industries, and comparing with that in different countries, we find that in this area, real estate industry depends too much on financial industry; the dependency is much above the international level; and to some extent, the correlation between real estate industry, financial industry and construction industry has some unreasonable factors, which lead to weaken the relationship between real estate industry and construction industry. Also, real estate industry has too weak connections with itself. There are some differences among provinces in Yangtze River Delta, and causes of these differences are complicated. In the long term, in order to solve the above-mentioned problems in or even beyond Yangtze River Delta, we should start from two directions: one is “reform and innovation”, the other is “risk precaution”. Related Articles | Metrics Select Theoretical Model and Empirical Analysis of Early Warning on Shanghai’s Real Estate Market WANG Sheng, DI Qing & BAI Yu-chen Journal of East China Normal University (Philosoph    2013, 45 (3): 137-144.   Abstract （1323）   HTML （12）    PDF （441KB）（2501）       Knowledge map    The fluctuation of real estate market will perplex other sections and even the whole national economy. Therefore, the early warning of this fluctuation is very important. Combining the method of forecasting through statistical fitting and the 6-sigma early warning method, this paper selects key indexes of price, sales volume, investment and coordination degree in Shanghai’s real estate market to fit into the established model. The result shows that there is difference in the price affection model among several sub-markets in Shanghai. While the comparative price ratio of outside-ring district was mainly related with sales rather than investment factors, the comparative price ratio of inner-middle districts was more related with the matter of supply-demand and reasonable investment ratio. Thus, we can make respective forecasting models, alarming statistics, and early warning control charts reflecting the reality. Related Articles | Metrics Select The Fair Distribution of Public Rental Housing: A Case Study on the Netherlandish Mode and Its Inspiration HU Jin-xing & CHEN Jie Journal of East China Normal University (Philosoph    2013, 45 (3): 145-150.   Abstract （918）   HTML （12）    PDF （408KB）（1789）       Knowledge map    Fair distribution is the lifeblood of public rental housing allocation, which includes five dimensions such as allocation criteria justice, allocation process justice, information justice, interactional justice and distributive justice. The governments of the Netherlands have focused on the fair distribution of public rental housing since the end of the World War II, and have taken successively the distribution model and the choice-based letting model to improve the fair distribution. The Dutch experience provides inspiration for us in this field. The public rental housing allocation should adhere to the principle of fair distribution and should advance systematically fair distribution from the following five aspects: distribution mechanism, distribution system, distribution institution, distribution operation scheme and housing allowance system. Related Articles | Metrics Select Research on Goal Realization Mechanism of Fairness and Efficiency in China’s Real Estate Market ZHANG Yong-Yue, WANG Yuan-Hua Journal of East China Normal University (Philosoph    2012, 44 (5): 79-85.   Abstract （1283）   HTML （5）    PDF （1761KB）（1461）       Knowledge map    Since the reform and opening up, China’s real estate market, which regards efficiency as priority, has witnessed its high-speed development. However, it also produced a variety of unfair phenomena. To develop China’s real estate market in the future, we have to deal with well the relationship between efficiency and fairness, and achieve the goal of the unity of efficiency and fairness based on social common prosperity. Therefore, we should establish four mechanisms: a law of incentive compatibility, government regulation on the market, the supply of indemnificatory apartments, and the efficient allocation of indemnificatory apartments. We should take positive measures to establish the housing security laws, carry out the survey of housing information to find out the housing situation, increase the effective supply of commercial residential buildings and reduce speculative demand for housing, increase the supply of multi-level indemnificatory apartments and improve its function, and to enhance the efficiency and fairness in the allocation and operation of indemnificatory apartments. Related Articles | Metrics Select Low Carbon, Low Carbon Real Estate and Economic Policies SUN Bin-Yi Journal of East China Normal University (Philosoph    2012, 44 (5): 86-91.   Abstract （990）   HTML （3）    PDF （1758KB）（1389）       Knowledge map    Currently, low carbon real estate has become a popular choice for the whole society. The government adopts the policies of strong administrative interventions and subsidies to encourage low carbon real estate, but it ignores the indirect and invisible effects of the policies in the future. The government has not fully considered the negative impacts of low carbon real estate policies on relative prices, incentive conditions, competitive processes, supply and demand. The real basis for the development of low carbon real estate is to simulate the enthusiasm of social subjects of all levels by mainly taking market-oriented approaches through the use of low carbon energy policies of full life cycle. Related Articles | Metrics Select The Interactive Relationship between China’s Real Estate Prices and Inflation during 2002—2011 SHI You-Wen, MA Wen-Jie Journal of East China Normal University (Philosoph    2012, 44 (5): 92-101.   Abstract （1694）   HTML （4）    PDF （1768KB）（1477）       Knowledge map    By comparing the national average real estate prices index with CPI data from 2002—2011, we can find that the interactive relationship between China’s real estate prices and inflation trends is very complex. Therefore, it is necessary to clarify the dynamic relationship between them. In this respect, based on the theoretical analysis, we make a cointegration equation and a vector error correction model based on real estate prices, inflation rate, the general money supply, short-term interest rate and economic output in China from January 2002 to December 2011, and then proceed to make related test and analysis. The empirical result shows that: In the interval range of samples, there exists a long-term stable dynamic equilibrium relation between China’s real estate prices and inflation; in the short term, real estate prices fluctuation has a weak impact on the inflation, while inflation has a significant positive impact on real estate prices. Related Articles | Metrics Select Determination of the Impact of the Real Estate Policy Information on Market Value ZHANG Bin, GU Zhen-Yue Journal of East China Normal University (Philosoph    2012, 44 (5): 102-106.   Abstract （1126）   HTML （4）    PDF （1758KB）（1158）       Knowledge map    Information is an important commodity in the informational society. How to determine the value of all kinds of real estate policy information in the real estate market is a research subject with practical significance. According to the determination of the impact of macro financial policies, land policy and housing reform policy on the price of commercial residential buildings through the synthetical model based on the study of all kinds of information value measurement, the land policy has the most significant influence, while the macro financial policy has relative high value coefficient, and the information value of the housing reform policy has a lag of a week. Related Articles | Metrics Select A Positive Analysis of Operational Performance Characteristics of the Tourist Real Estate Project SUN Bin-Yi Journal of East China Normal University (Philosoph    2011, 43 (6): 131-137.   Abstract （1236）   HTML （2）    PDF （1264KB）（1446）       Knowledge map    The tourism real estate project is an intersect industry. It has industrial characteristics of real estate development and operation and tourism service. The econometric analysis finds that the outer factors of operation performance are transportation, natural environment, location, brand and attraction of culture landscape, and the inner factors are investment level, ability of managers, tourist service, and attraction of tourism project. If the manager wants to raise his/her operational performance, he/she must not only improve the internal management, but also coordinate all of projects in the whole district. Only when the whole district has fine operation environment, can the project improve its performance. Related Articles | Metrics Select Affective Factors of the Real Estate Price in Medium Cities——An Empirical Analysis Based on the Hierarchical Linear Model WANG Sheng Journal of East China Normal University (Philosoph    2011, 43 (6): 138-142.   Abstract （1329）   HTML （2）    PDF （1256KB）（1584）       Knowledge map    The question of real estate price is a focus of society. With the economic development, the urban real estate price has increased rapidly in recent years, but the levels and increasing rates are varied among different cities. The object of this article is to analyze some factors which induce this difference among cities. HLM (Hierarchical Linear Model) is applied to make research on this topic for middleclass cities in China, and some meaningful results are obtained. Related Articles | Metrics