中国房产价格：怎样用融资选择和价格杠杆分析房价是否虚高

发布时间：2018-04-09 10:03

本文选题：中国　切入点：房地产　出处：《复旦大学》2014年硕士论文

【摘要】：过去十年中国房价创下历史新高。同时,国内金融市场也推出了各种新型融资产品.为投资者和融资者带了更多选择·增加了市场复杂性。这不仅在学术界·而且在传媒界和普通大众中也引起了新投资热点。因此.政府最近出台了一系列政策,显示了控制房价上涨和稳定金融市场的调控意图。本文旨在分析房价是否出现价格泡沫·同时分析房产投资者的各种可选手段以及他们如何影响了房产市场的稳定性。结果显示一些因素和理论预期并不相符.比如人口增长对房产市场造成负影响,更准确地说,放缓的人口增长不会使房价停止增长。但是与多数经济理论预期相反·固定资产投资和房产开发业将会对房产市场产生积极效应。另一方面·与经济模型预测结果相符·中国大部分城市的房产时价与实际价值一致除了上海、深圳和北京富人区出现了价格泡沫。最后本文将阐述房产商和投资者都对金融创新表现出强烈兴趣·尤其是对REIT,私募股权融资和安全化过程。政府都意识到了房价上涨和金融工具多元化的趋势。针对此.政府采取的调控措施在于防止房价上涨率下降·导致了消费需求萎缩和房地产相关工业需求下降。此外.其他新政策也在于防止产生房价和金融市场的不稳定
[Abstract]:China's house prices have hit record highs over the past decade.At the same time, the domestic financial market has also launched a variety of new financing products.More options for investors and financiers add to the complexity of the market.This not only in academia, but also in the media and the general public also caused a new investment hot spot.So...The government has recently introduced a series of policies that show the intention of controlling rising house prices and stabilizing financial markets.The purpose of this paper is to analyze whether there is a price bubble in house prices and how they affect the stability of the real estate market.The results show that some factors do not match the theoretical expectations.Population growth, for example, has a negative impact on the housing market and, more accurately, slowing population growth will not stop house prices from rising.But contrary to most economic theories, fixed asset investment and property development will have a positive effect on the real estate market.On the other hand, in line with economic model forecasts, current property prices in most Chinese cities are in line with real values except in Shanghai, Shenzhen and rich areas in Beijing have seen price bubbles.Finally, this paper will explain that both real estate and investors have shown strong interest in financial innovation, especially for REITs, private equity financing and the process of security.Governments are aware of the trend towards rising house prices and diversification of financial instruments.In view of this.The government's controls are aimed at preventing falling housing prices from shrinking consumer demand and falling demand for property-related industries.In addition...Other new policies are aimed at preventing house prices and financial market instability
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.23

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