土地—住房的制度变革和市场需求是重塑中国房地产空间格局的重要力量。文章基于1997—2005房地产统计数据,探讨了制度转轨过程中我国房地产外资的空间格局及时间演化。总体而言,房地产外资集中分布在东部沿海省区,近年来开始向内陆地区扩散。计量结果显示,土地—住房市场化程度高的省区有利于吸引房地产外资企业进入,房地产价格、国内外市场需求与房地产利用外资存在显著正相关,房价越高、城镇住房需求越旺盛的省份越能促进房地产外资的空间集聚;同时,房地产利用外资在一定程度上存在同源集聚现象;本地金融市场的发育等因素目前还未成为影响房地产外资区位选择的主要因素。
The agglomeration of foreign real estate investment is very significant in China,especially in the eastern coastal provinces.This paper is to investigate the forces that determine the spatial distribution of it.Beyond the existing literature,this study highlights the importance of institution reform,market demand in attracting foreign investment to real estate industries.Using a panel dataset of real estate industries in China during the period 1997-2005,this study found that institution reform,market demand are important in attracting foreign real estate investment.Provinces with higher degree of land and housing marketing are easier in attracting foreign real estate investment.Investors also favor provinces with higher market demand and housing prices.The agglomeration of FDI investment is also favorable for foreign real estate investment.