Empirical Analysis on the Relationship of House Price and Land Price in Shanghai

Using time series analysis of price index of housing and land of the last 5 years,study the relationship of housing price and land price in Shanghai,conclude that in the short term,they effect on each other and in the long term,land price are affected by housing price.These conclusion are discussed in theory of real estate economics.This study show that it is invalid to control housing price by control land price.