Impact Factors of Spatial Differentiation of Housing Prices in China's Cities

In order to explore the main driving factors of housing prices in China, we used the data of housing prices in China's 116 cities, and analyzed the impact of 3 factors including housing demand, supply and cost on housing prices based on the method of Gray Relational Degree. The results show that: The land price has the most evident driving effect on the housing price differentiations in China's cities; the driving effects from population aggregation and residential land supply are also very remarkable; the supply-demand theory and cost theory could be adopted simultaneously in explaining the housing price differentiation phenomenon in China.