An Empirical Analysis of the Effects of Land Price and Real Estate Development Investment on House Price
Based on the statistics of China's residential land price,real estate development investment and house prices from 2000 to 2010,the present paper makes an empirical study on the effect of land price and real estate development investment on house price with methods of cointegration test and error correction model.The results show that there exists a long-term and steady equilibrium relationship between land price,real estate development investment and house price;the land price has promoting effect on house price;and real estate development investment affects house price stronger.