IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-981-15-3977-0_32.html
   My bibliography  Save this book chapter

Research on the Commercial House Price of Supply and Demand Elasticity Based on the Panel Data of China’s Four Municipalities

In: Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate

Author

Listed:
  • Yanming Lyu

    (Sichuan Agricultural University)

  • Mengxue Chen

    (School of Sichuan Agricultural University)

Abstract

Based on the panel data from 2000 to 2016 of China’s four municipalities, this paper constructs a dynamic cobweb model that includes the price of real estate, per capita disposable income, interest rate, and other variables. Then, an empirical analysis of the price elasticity of China’s commercial housing supply and demand is conducted. The results show that for the supply side, the supply of residential real estate has a positive correlation with the real estate prices in the previous period and is insensitive to changes in the benchmark lending rates. For the demand side, the demand for residential real estate is positively correlated with the per capita disposable income of urban residents in the current period, and is negatively correlated with the real estate price in this period. However, the demand of residential real estate is not sensitive to price changes. This result may be due to the fact that the four municipalities are China’s economic and cultural centers. There are a large number of people are flooding into these cities. The increase in demand brought by the population boom far exceeds the decline in demand caused by rising prices. At the same time, the purchase restriction policy has played a certain role in suppressing speculative demand arising from price increases.

Suggested Citation

  • Yanming Lyu & Mengxue Chen, 2021. "Research on the Commercial House Price of Supply and Demand Elasticity Based on the Panel Data of China’s Four Municipalities," Springer Books, in: Fenjie Long & Sheng Zheng & Yuzhe Wu & Gangying Yang & Yan Yang (ed.), Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate, pages 426-436, Springer.
    • Handle: RePEc:spr:sprchp:978-981-15-3977-0_32
    DOI: 10.1007/978-981-15-3977-0_32
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-981-15-3977-0_32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.