Journal of Northeastern University Natural Science ›› 2017, Vol. 38 ›› Issue (4): 598-603.DOI: 10.12068/j.issn.1005-3026.2017.04.029

• Management Science • Previous Articles     Next Articles

Fluctuation Relationship Between Land and House Prices Based on Simultaneous Equation

TANG Kai, ZHUANG Xin-tian, LU Pan-pan, LI Xiao-qing   

  1. School of Business Administration, Northeastern University, Shenyang 110167, China.
  • Received:2016-06-08 Revised:2016-06-08 Online:2017-04-15 Published:2017-04-11
  • Contact: ZHUANG Xin-tian
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Abstract: A simultaneous equation model for the relations of urban real estate prices in our country was built, and parameter estimation of national key sample cities was given according to the quadratic least squares. The results indicated that simultaneity and interplay exist between land and house prices. The number of population has a great influence on land price. Per capita disposable income and real estate development investment raise the house price, but house sales area is quite the reverse. House price lag greatly affects house price. The expectation of fluctuating prices impacts on the investor sentiment and leads to the changes of house price.

Key words: land price, estate price, simultaneous equation model, effect factors, causal relationship

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