Segmentation of Chinese Urban Real Estate Market: A Demand-Supply Distribution Perspective

摘要

This study proposed a new perspective on the analysis of the regional features of real estate market and explored a more reliable segmentation method for Chinese urban real estate market based on the optimization of supply-demand resource distribution. A two-stage clustering procedure is proposed based on supply and demand elements and market performance respectively. And six clustering algorithms were used to divide 283 Chinese cities at the prefecture level or above into three clusters and 13 sub-clusters, which are identified as key regulatory region, stable development region and region that needs policy support. Differentiated regulatory policy suggestions are accordingly provided for each cluster.