Analysis on Impact of Purchase Restrictions on Housing Prices in Chengdu

Authors

  • Zilong Wang

DOI:

https://doi.org/10.54097/3b8mka09

Keywords:

ARIMA, time series analysis, forecasting, house purchase restrictions, housing market dynamics

Abstract

This study delves into the intricacies of Chengdu's housing market, particularly focusing on the ramifications of purchase limitations imposed on property prices during the 2016-2017 period when purchase restrictions are issued. By employing the ARIMA (9,1,0) model for time series analysis and using the ARIMA model to analyze the price changes in Chengdu's housing market, it was discerned that, in contrast to expectations, property prices in Chengdu exhibited an upward trend despite the introduction of these purchase restrictions. This unexpected outcome underscores the multifaceted nature of housing market dynamics, underlining the necessity of taking into account regional and local variables. The findings of this research carry substantial implications for policymakers, highlighting the imperative of crafting more localized strategies and maintaining consistent market surveillance. For policymakers along with investors, the study sheds light on the importance of incorporating a diverse array of market indicators, such as demographic shifts and prevailing economic trends, into their investment or policy decision-making framework.

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Published

22-01-2024

How to Cite

Wang, Z. (2024). Analysis on Impact of Purchase Restrictions on Housing Prices in Chengdu. Highlights in Business, Economics and Management, 24, 2489-2495. https://doi.org/10.54097/3b8mka09