Theoretical and Natural Science
- The Open Access Proceedings Series for Conferences
Theoretical and Natural Science
Vol. 38, 24 June 2024
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Research on factors influencing housing prices in Beijing
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Abstract
This paper delves into the issue of soaring housing prices in China’s real estate sector, with a particular focus on Beijing. Employing a multiple linear regression model, it conducts an empirical analysis to identify the factors influencing housing prices. Furthermore, it synthesizes scholarly perspectives to offer a comprehensive discussion on these influencing factors. The research highlights Beijing’s real estate development, residential investment, and residential sales area as pivotal determinants of housing prices. Building upon these findings, the study advocates for the implementation of effective measures such as land policy regulation and restrictions on real estate transactions to guide the real estate market development prudently and maintain housing prices within a rational range. Results show that real estate development residential investment has a significant positive impact on housing prices, while residential sales area has a significant negative impact. Ultimately, the research endeavors to furnish a scientific foundation for policy formulation and assess its impact, thereby fostering the healthy growth of the real estate market, ensuring stable economic progress, and enhancing the well-being of people.
Keywords
Housing prices, multiple linear regression, interaction effects
References
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2. Abraham J M, Herdershott P 1996 Bubbles in metropolitan housing markets. Journal of Housing Research, 2, 191-203.
3. Lan F, Zhang Y 2011 Spatial Autoregressive Model of Commodity Housing Price and Empirical Research. Systems Engineering Procedia, 3, 206-212.
4. Zhou E, Zhu J, Wang G 2016 Construction and Empirical Analysis of Factors Influencing House Prices: A Case Study of Jiangxi Province. Journal of Lanzhou University of Finance and Economics, 4, 34-43.
5. Meng Q, Rong C 2014 Long-term and Short-term Effects of Macroeconomic Factors on Real Estate Prices. Statistical Research, 6, 25-32.
6. He M 2023 The Impact of RMB Exchange Rate on Residential Sales Prices in First-tier Cities: A Study. Master’s Thesis, Guangzhou University.
7. Chen X, Cheng S, Xiao Z 2023 Study on Factors Affecting Housing Prices in First-tier Cities Based on Machine Learning Methods. Nankai Journal (Philosophy and Social Sciences Edition), 6, 146-163.
8. Meng K 2023 Analysis of Factors Affecting Housing Prices and Policy Suggestions - A Case Study of Beijing. Economic Research Guide, 22, 32-34.
9. Lv C Y, Liu Y X, Wang L D 2022 Analysis and Forecast of Influencing Factors on House Prices Based on Machine Learning. Proceedings of 3rd International Symposium on Information Science and Engineering Technology, 117-121.
10. Zheng Y F 2007 Research on the spatial difference of housing prices in different urban areas of Hangzhou. Economic Forum, 20, 32-34.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Mathematical Physics and Computational Simulation
- ISBN (Print)
- 978-1-83558-461-3
- ISBN (Online)
- 978-1-83558-462-0
- Published Date
- 24 June 2024
- Series
- Theoretical and Natural Science
- ISSN (Print)
- 2753-8818
- ISSN (Online)
- 2753-8826
- DOI
- 10.54254/2753-8818/38/20240562
- Copyright
- 24 June 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited