房地产开发投资水平影响因素研究——北京、上海、天津、深圳房地产投资开发比较研究

Research on the Factors Influencing Real Estate Investment Level——Based on the Comparative Research on the Real Estate Investment Level of Beijing,Shanghai,Tianjin,Shenzhen

近年来,我国大中城市的房地产开发投资水平出现了快速增长的局面,探讨合理的房地产开发投资水平成为目前市场中的热点问题。本文对北京、上海、天津和深圳四城市的房地产开发投资水平进行了定量研究和比较分析。SHTO理论和多元回归模型表明:四城市的房地产开发投资水平受地区人口发展、产业发展和宏观经济发展的影响显著,但是不同城市房地产开发投资水平的影响因素有所不同,相同因素在不同城市的影响效果也有差异。

In recent years, the investment levels of real estate development in large-scale and medium-sized cities in China boosted up. The discussion of rational investment level becomes a hot topic at present. This paper carries out a quantitative and comparative research on the investment levels of real estate development in Beijing, Shanghai, Tianjin and Shenzhen. Based on international research experiences, SHTO theory and multi-regression models show that the investment levels of real estate development in the four cities are notably affected by regional population growth, industry development and macro-economy conditions. Because of the differences in the social and economic environment, the explained variables of investment level differ among the four cities and the same factor may bring different impact in term of the magnitude.