Influential Factors of Residential Commodity Price Changes in Sanya

Abstract

Residential commodity price is not only an important index of government macro-control, but also an important livelihood topic in society. The purpose of this paper is to take Sanya as an example to make an empirical analysis on the relationship between the factors affecting commodity housing prices, and their effects on housing prices. By using pearson correlation analysis, factor analysis and principal component regression method, it is found that the main factors influencing the housing price in Sanya are the housing sales area, the gross domestic product, the per capita disposable income, and the land price level of residential land. Among them, housing sales area and Sanya city house price changes in the opposite direction, the regional gross domestic product, per capita disposable income, residential land price level plays a positive role in housing prices.