Empirical Analysis of Influencing Factors of Real Estate Development: A Case Study of Harbin

This paper aims to make a theoretical and empirical analysis on the factors affecting the real estate industry in Harbin by using the data of real estate industry in Harbin from 2000 to 2015 and establishing multiple regression models. The study finds that there is a significantly positive correlation between the development of real estate industry in Harbin and six factors, which are the urbanization level, the industrialization level, the economic development level, the degree of regional development, the housing consumption demand level, and the government investment expenditure. Among them, the urbanization level and the government investment expenditure are two predominant factors. The study also finds that the second industry could curb the development of the real estate industry in certain conditions. Therefore, to promote the urbanization level and improve the government investment expenditure can effectively accelerate real estate industry development.