This paper chooses the data of high-tech enterprises in China from 2007 to 2014, and investigates the impact of house price on firm innovation. The conclusion is that the house prices are significantly negatively related to the firm innovation, and compared to the prices of the operating buildings and the office buildings, the negative effect of the increasing price of commercial buildings as a whole, residential buildings (large categories), or other commercial building in the similar category is more significant. Besides, the paper also found that the negative effect on state-owned enterprise innovation is more significant than the non-state-owned enterprise innovation. The conclusion of this paper has a certain guiding significance for exploring the negative impact of rising house prices on the enterprise innovation.
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