ABSTRACT

In recent years, with the growing prosperity of the real estate market, the bubble is one of the most heated topics among people besides prices. As a representative of first-tier cities in China, with the implementation of the Chinese housing reform and the acceleration of housing commercialization, the real estate industry develops fast in Shanghai, and has become an important pillar industry which promotes economic growth in the city. With industrial development, the Shanghai housing prices also show excessive growth. It is very important to measure the speculative bubble in the real estate market in Shanghai.