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An Empirical Research on the Bubbles of Real Estate in Ningbo City

Real estate industry as a pillar industry in China develops along with national economy innovation step by step. Real estate economy plays an important role in the whole national economy. Through the discussion on the origin and distinguishing modes of real estate bubbles, the paper takes income-reverting method to measure and test real estate bubbles in Ningbo, and calculates the bubble coefficient in recent years by Vacancy Rate Revision. The paper analyzes in detail whether real estate bubbles have come into being in Ningbo or not. And the paper presents that the government must adopt prospective and long-term measures to fit supply and demand change, guide investment reasonably and avoid real estate bubbles forming. And the government should increase macroeconomic control strength on real estate market. Consequently the government would control the formation and overexpansion of real estate bubbles, which avoid effectively the serious damage to national economy.