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Empirical Research on Determinants of Housing Prices in Large Cities

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

Listed:
  • Mingyuan Liu

    (Guanghua Cambridge International School)

Abstract

This dissertation mainly analyses the determinants of housing prices in large cities. For different cities, reasons behind variations in housing prices are also distinguishable. Therefore, through both literature research and empirical analysis, 5 potential determinants of average prices of commercial housing (floor space of buildings completed, city per capita disposable income, investment in real estate development, end-year permanent household size and GDP per capita) are analysed respectively, mainly by correlational analysis and stepwise regression method. The result reached is that city per capita disposable income is always a factor affecting average price of commercial housing, investment on real estate development is a factor affecting average price of commercial housing in most cases, despite some cities banning investment strongly, and end-year permanent household size is occasionally a factor, largely depending on other factors such as the speculative demand and willingness to purchase houses of local population. Other two possible determinants have no influence on average price of commercial housing.

Suggested Citation

  • Mingyuan Liu, 2022. "Empirical Research on Determinants of Housing Prices in Large Cities," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 1024-1035, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_115
    DOI: 10.2991/978-94-6463-052-7_115
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