influencing factors of house prices:
I. supply and demand
supply and demand are the two final factors that form prices. All other factors affect the price, either by affecting the supply or by affecting the demand. The price of real estate is also determined by supply and demand, which is positively correlated with demand and negatively correlated with supply. If the supply is fixed and the demand increases, the price will rise; If demand decreases, prices will fall. If the demand is fixed and the supply increases, the price will fall; If the supply decreases, the price will rise. The supply and demand of real estate can be divided into the following four types:
A total supply and demand of real estate in the whole country
C total supply and demand of this kind of real estate in the whole country
D total supply and demand of this kind of real estate in the whole region
Because of the immovability of real estate and the difficulty of changing the use function, it is mainly the supply and demand of this kind of real estate in the local area that determines the price level of a certain real estate. As for the supply and demand of other types of real estate, whether it affects the price level of the real estate and the extent of its influence depends on the contagion of these supply and demand conditions.
second, its own conditions
the quality of real estate's own conditions is directly related to its price. The so-called own conditions refer to those factors that reflect the natural physical state of real estate itself. These factors are as follows:
1. Location
All kinds of economic activities and life activities require the location of real estate. The location of real estate directly affects the economic benefits, life satisfaction or social impact of its owners or users. Therefore, the prices of real estate vary greatly with different locations. Whether it is located in a city or a country, a central business district or a residential area, a street corner or a back ground, facing the sun or facing the sun. Especially urban land, its price is almost determined by its location.
the price of real estate is positively related to the location. The location of commercial real estate is good or bad, mainly depending on the degree of prosperity and the state of facing the street. The location of residential real estate mainly depends on the surrounding environment, peace, convenient transportation and the distance from the city center. Among them, the requirements of the villa are close to nature, excellent environmental quality, and living in it can ensure a certain degree of privacy. "One step short of a thousand dollars" is always a truth for business, but it is a misunderstanding for building villas. The location of industrial real estate usually depends on the nature of its industry. Generally speaking, if its location is conducive to the transportation of raw materials and products, convenient for waste treatment and power acquisition, its price will tend to be higher.
On the surface, the location of real estate is a geometric concept, but in fact it is not a simple geometric concept, but the sum of natural factors and human factors associated with a specific location. Therefore, the location of real estate is different from natural geographical location and socio-economic location. Although the natural geographical location of real estate is fixed, its socio-economic location will change, which may be caused by the formulation or modification of urban planning, traffic construction or diversion, or other construction. However, when the position of real estate changes from bad to good, the price will rise again; On the contrary, the price will fall.
2. Geology
Different types of buildings have different requirements for foundation bearing capacity, and different lands have different bearing capacity. The address condition determines the bearing capacity of the land. The address is solid and the bearing capacity is large, which is beneficial to the use of buildings. In urban land, especially in the case of high-rise development of modern urban construction, geological conditions have a great influence on land price. Land price is positively correlated with geological conditions; Good geological conditions, high land prices; On the contrary, the address conditions are poor and the land price is low.
3. Topography
Topography refers to the ups and downs of the ground in the same piece of land. Topography refers to the relationship between this piece of land and adjacent land, especially the relationship between this piece of land and adjacent roads, for example, it is higher or lower than the road surface. Generally speaking, the land is flat and the land price is high; The land is uneven and the land price is low; Other things being equal, the price of high-lying real estate is higher than that of low-lying real estate.
4. Land area
Two pieces of land in the same position will have different prices due to different areas. Generally speaking, the price of land which is too small to be used economically is lower. The relationship between land price and land area is variable. Generally speaking, the sensitivity to the size of the area is higher in the downtown area of the city, but lower in the suburbs or rural areas. The suitability of land area is also different due to different regions and different consumption habits. For example, if high-rise buildings are generally accepted in a local market, the use value of a large area of land in this place is higher than that of a small area, so the price of a large area of land will be much higher than that of a small area of land. On the contrary, if the local market can only accept small-scale buildings, there will be no great difference between the price of a larger area of land and the price of a smaller area of land.
5. Land shape
Whether the land shape is regular or not also has a certain impact on the land price. Land shapes are square, rectangle, triangle, diamond, trapezoid and so on. The land with irregular shape is generally low in price because it cannot be effectively used. After the land is adjusted or redrawn, the use value increases, and the land price immediately rises. Land price is positively correlated with land shape: if the land shape is regular, the land price will be high; If the shape of land is irregular, the land price will be low.
6. Sunshine
There are two kinds of sunshine in natural state and sunshine influenced by human factors. The relationship between real estate price and sunshine has the following characteristics: on the one hand, it is positively correlated with sunshine; On the other hand, it is negatively correlated with sunshine. Generally speaking, the price of real estate (especially residential) sheltered by huge buildings or other things around it must be lower than the price of the same real estate without shelter. The influence of sunshine on real estate prices can also be seen from the influence of residential orientation on its prices.
7. Ventilation, wind direction and wind power
In general, the stronger the wind or the places where windstorms often occur, the lower the real estate price. The relationship between real estate price and wind direction is obvious in cities. The real estate price is generally higher in windward areas and lower in downwind areas.
8. Temperature, humidity and precipitation are extremely surplus or extremely poor, which are not conducive to production and life, thus lowering the real estate price. Combining precipitation with topography, its impact on real estate prices is more obvious. Although the terrain is low-lying, if the precipitation is not large, it is not easy to accumulate water, so the terrain has little influence on the real estate price, except in areas with high groundwater level; On the contrary, if the precipitation is large, the terrain will have a great influence on the real estate price.
9. Natural periodic disasters
Where there are natural periodic disasters, the land use value is bound to be low or even unusable. However, once this kind of land is built with reliable flood control projects, it will no longer be affected by periodic disasters, and its price will gradually rise. Even because it is close to rivers, lakes and seas, special conditions can be obtained, such as scenery and waterway transportation, so the price of this kind of land is higher than other land.
1. The appearance of the building
The appearance of the building includes the architectural style, style and color, which has a great influence on the real estate price. Where the appearance of the building is novel and beautiful, which can give people a comfortable feeling, the price is high; On the other hand, monotonous and dull, it is difficult to arouse people's strong desire to enjoy, or even depressing and disgusting, then the price is low.
11. Building orientation, building structure, internal pattern, equipment configuration, construction quality, etc.
III. Environmental factors
Environmental factors that affect real estate prices refer to those physical factors around real estate that have an impact on real estate prices. The factors in this respect are as follows:
1. Where the acoustic environment is
noisy, the real estate price will inevitably be low. In quiet places with low noise, real estate prices are usually higher.
2. Atmospheric environment
Whether there are unpleasant smells, harmful substances and dust in the area where the real estate is located also has a great influence on the real estate price. Real estate prices near chemical plants, slaughterhouses, wineries, toilets and other places are low.
3. Hydrological environment
The degree of pollution of groundwater, ditches, rivers, lakes, oceans, etc. also has a great impact on the price of real estate nearby
4. Visual environment
Whether the things placed around the real estate are messy, whether the buildings are harmonious, and whether the landscape formed by parks and greening is pleasing to the eye, all of which have an impact on the price of real estate
5. Sanitary environment < The influence of population factors on real estate prices can be divided into three aspects: population, population quality and family size.
1. Population
The relationship between real estate prices and population is very close. As far as a country is concerned, so is a region or a city. Especially in cities, with the increase of migrants or floating population, the demand for real estate will inevitably increase, thus promoting the rise of real estate prices. In densely populated areas, generally speaking, the demand for real estate exceeds the supply, and the supply is relatively scarce, so the price tends to be higher.
2. Population quality
People's cultural and educational level, quality of life and civilization can cause changes in real estate prices. With the development of civilization and the progress of culture in human society, public facilities are bound to become more and more perfect and universal, and the living environment is bound to be spacious and comfortable, all of which are enough to increase the demand for real estate, thus leading to higher real estate prices. If the residents in an area have low quality, complex composition and poor order, people are reluctant to live here, and the real estate price will inevitably be low.
3. Family size
refers to the average family population in the whole society or a certain area. Changes in family size, even if the total number remains the same, will also cause changes in the number of residential units, thus causing changes in the number of houses needed, which in turn will lead to changes in real estate demand and affect real estate prices. Generally speaking, with the miniaturization of family size, that is, the decline of average family population, the price of real estate tends to rise.
V. Economic factors
The economic factors that affect the real estate price mainly include: economic development, savings, consumption, investment level, fiscal revenue and expenditure, financial situation, price (especially the price of building materials), construction labor cost, interest rate, residents' income and real estate investment.
1. Economic development
Economic development indicates that investment and production activities are active, and the demand for factories, offices, shopping malls, houses and various recreational facilities is increasing, which leads to the rise of real estate prices, especially land prices.
2. Prices
The relationship between real estate prices and prices is very complicated. Usually, prices generally fluctuate, and real estate prices will also change accordingly; If other conditions remain unchanged, the percentage of price change is equivalent to the percentage of real estate price change, and the trends of the two should also be consistent.
as far as a single real estate is concerned, price changes can cause changes in real estate prices, such as the rise in building materials prices, which will lead to an increase in building construction costs, thus pushing up real estate prices.
in a long period of time, the rising rate of real estate prices is higher than that of general prices and the growth rate of national income.
3. Residents' income
Usually, the real increase of residents' income shows that people's living standards will be improved, which will lead to an increase in demand for real estate and an increase in real estate prices. If the income of residents increases, it is the income of people with middle and low income levels, and the demand for residential real estate increases, which will promote the price of residential real estate to rise. If the income of residents increases, it is the income of high-income people, which has little impact on real estate prices. However, if the remaining income is used for real estate investment (especially speculation), it will inevitably lead to changes in real estate prices.
VI. Social factors
1. Political stability
Political stability refers to the stability of the existing political power and the conflicts between parties and groups with different political views. Generally speaking, political instability means social unrest, which affects people's confidence in investment and home ownership, resulting in low real estate prices.
2. Degree of social security
The degree of social security refers to crimes such as theft, robbery, rape and murder. In the area where real estate is located, if such crimes often occur, it means that people's lives and property are not guaranteed, thus causing low real estate prices.
3, real estate speculation
real estate speculation, in short, is the act of investing in the right time, using the fluctuation of real estate prices, buying and selling real estate in different periods, and obtaining profits from the price difference.
generally speaking, the impact of real estate speculation on real estate prices can occur in the following three situations:
causing real estate prices to rise;
causing real estate prices to fall;
plays a role in stabilizing real estate prices.
when the real estate price is rising, speculators who expect the real estate price to rise further snap up, creating a false demand, which will undoubtedly promote the real estate price to rise further. When the situation is the opposite, speculators who expect real estate prices to fall further will sell real estate one after another, which will prompt real estate prices to fall further. When the real estate price is low, speculators who have the psychology that the real estate price will rise in the future buy real estate in order to sell it when the real estate price rises in the future. In this way, speculators will buy real estate when the real estate demand is small, resulting in an increase in real estate demand; When the real estate price rises, speculators throw out real estate and increase the supply of real estate, thus stabilizing the real estate price.
4. Urbanization
Generally speaking, urbanization means that the population is concentrated in urban areas, resulting in increasing demand for urban real estate and driving up the price of urban real estate.
VII. Administrative factors
Administrative factors that affect real estate prices refer to the factors that affect real estate prices in terms of systems, policies, regulations and administrative measures, mainly including land system, housing system, real estate price policy, change of administrative subordination, special policies, urban development strategy, urban planning, land use planning, tax policy, traffic control, etc.
1. Land system
The land system may have the greatest impact on land prices. For example, under the traditional land system in China, it is forbidden to buy, sell, lease or illegally transfer land in other forms, which may make land rent and land price simply nonexistent.
2. Housing system
Like the land system, the housing system has the greatest impact on real estate prices. The implementation of low rent and welfare system will inevitably lead to low real estate prices.
3. Real estate price policy
There are two types of real estate price policies: one is high price policy; One is the low price policy. The so-called high price policy generally refers to the government's laissez-faire attitude towards real estate prices, or its intention to raise real estate prices through certain measures; Low price policy generally refers to the government taking various measures to curb the rise of real estate prices. Therefore, the high price policy promotes the rise of real estate prices, while the low price policy causes the fall of real estate prices.
4. Special policies
Established in some places.