An Empirical Analysis of the Factors Affecting Real Estate Price under the Background of Loose Monetary Policy: Based on the Statistics of Chengdu in the past 15 Years

Abstract

Chengdu, one of the fastest growing cities in China and the world, has seen a steady rise in housing prices, but in the past year it has seen explosive growth, with prices in the main urban areas almost doubling from the end of 2016 to the end of 2018. As a new first-tier city, the fluctuation of housing price in Chengdu will also reflect the change of housing price in various provinces and cities in China to some extent. Based on the price of commercial housing in Chengdu, this paper conducts a corresponding analysis and research. The purpose is to have a more comprehensive and objective understanding of the factors affecting the housing price in Chengdu, and to provide a reference for the factors affecting the housing price in various provinces and cities across the country. In this paper, first of all, by consulting relevant books on the impact of housing prices, reference to the research results at home and abroad, to find out the factors that affect the change in housing prices, and then select the factors that have a universal impact on housing prices, and combined with the current situation of Chengdu for analysis. Finally, this paper USES multiple linear regression to analyze the selected original variables, so as to find out the factors that influence the sharp fluctuation of housing price in Chengdu. The research in this paper can help strengthen people's understanding of the causes of housing price changes in Chengdu, so as to better make the decision to buy a house and help the government set up better policies. Keywords—Chengdu; house price; influence factors; fluctuations