Chapter
Nov 12, 2013
Principal Component Analysis of Influencing Factors of the Development of China's Real Estate Market
Publication: ICCREM 2013: Construction and Operation in the Context of Sustainability
Abstract
The real estate industry has become a pillar industry of China's national economy and it is closely related to economic development. Firstly, the paper studies the influencing factors of the development of China's real estate market by principal component analysis and two principal components are extracted. Secondly, the paper studies linear relationship between the price of the real estate market and the principal component by regression analysis and makes appropriate explanations for the results. Thirdly, the paper gets the conclusion that gross domestic product (GDP), real estate development investment, completion area of the residential real estate, urban population, the money supply, residential sales area of real estate and the price of real estate are positively correlated while the exchange and the price of real estate is negatively correlated. Finally, the paper put forward some suggestions which will good for the healthy development of China's real estate.
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ICCREM 2013: Construction and Operation in the Context of Sustainability
Pages: 1027 - 1035
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© 2013 American Society of Civil Engineers.
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Published online: Nov 12, 2013
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Professor, Department of Applied Economics, Harbin Institute of Technology, Harbin, China, 150001. E-mail: [email protected]
Postgraduate, Department of Applied Economics, Harbin Institute of Technology, Harbin, China, 150001. E-mail: [email protected]
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