THE DETERMINANTS OF URBAN HOUSE PRICES DIFFERENCE IN YANGTZE RIVER DELTA
利用2000-2004年长三角16个城市的面板数据，发现人均可支配收入增长和非农业人口比例是房价差异的主要需求侧驱动因素，而供给侧因素影响不显著。
The prices of urban residential housing are very informative of local socio-economic development conditions.Since the structure of urban housing system in the Yangtze River Delta ideally follows the rank-size rule,it constitutes a good example to analyze what are key determinants of variations of urban housing prices across different cities.Employing a panel data collected from the 16 cities in the Yangtze River Delta between 2000-2004,and using up-to-date econometric tools,this papers concludes that the urban housing prices in this region is primarily determined by demand-side factors.The growth in the per Capita disposable income(or total income) of urban households and non-agriculture population proportion ratio are the major driving forces of the demand for urban housings.At the same time,this paper suggests that key supply-side factors such as gross floor space sold per capita don't have determinant influences on local housing prices in the Yangze River Delta area.