Modern Economics & Management Forum

Urban real estate price fluctuations are primarily driven by macroeconomic conditions, monetary policies, market supply-demand dynamics, and investment behavior. Economic growth and income levels influence purchasing power, while interest rates and credit policies regulate market liquidity. Land supply, population mobility, and urbanization shape long-term price trends, whereas short-term volatility is affected by inventory cycles and speculative demand. Additionally, government intervention measures such as purchase restrictions and taxation policies significantly impact price adjustments. This paper examines the interplay of these key factors and their combined effects on the real estate market.