THE IMPACT OF POPULATION AGING ON HOUSING PRICES IN SHAANXI PROVINCE: A COMPREHENSIVE ANALYSIS OF NONLINEAR RELATIONSHIP.

Abstract

This study aims to investigate the impact of population aging on housing prices in Shaanxi Province by analyzing data from 1994 to 2020 using a multiple regression model. The results show that per capita GDP has a significant positive effect on housing prices in Shaanxi, while the impact of CPI on housing prices is not significant. The increase in real estate investment completed this year also promotes the rise of housing prices. Moreover, aging population has a restraining effect on house price increases, but with the increase of aging, population aging gradually shows a positive effect on housing prices, which can be explained by intergenerational transfer. Based on the findings, we suggest that the government should promote the development of the real estate industry in Shaanxi Province by implementing "rent-purchase equal rights" policies, relaxing population policies, and collecting real estate taxes. The study also highlights the importance of considering the nonlinear relationship between aging population and housing prices in future research, as well as the regional heterogeneity of this relationship. Overall, this study provides valuable insights for both residents and policymakers in making house purchase decisions and regulating and controlling house prices.