本文從中國2015年開始的全國範圍內棚改计划的歷程開始回顧，對棚改計劃的相關概念以及政策目標進行研究。之後，進一步闡明棚改計劃實施過程的安置方法對房價的推動作用。最終提出棚改計劃的安置方法會影響該地區房價。
實證研究部份，以 2015 年至 2019 年的浙江省11個地級市作為樣本，參考指標法，計算浙江省房地產泡沫指標，分析浙江省近幾年房地產市場的健康程度，發現浙江省處於輕度泡沫程度。再採用面板數據(panel data)的固定效應回歸模型，選擇聚類標準差的 LSDV 法，實證分析該市棚改計畫實物安置方式與城市商品房價格波動情況的相關性。在研究模型中，將各市每年棚改計畫的實物安置數作為解釋變量，當地的城市商品房銷售價格指數作為被解釋變量，並且選取地區的生產總值、居民人均可支配收入等因素作為控制變量，進行回歸。得出實物安置會對商品房價格造成顯著正向影響。

This paper reviews the process of China's shantytown renovation since 2015, and studies the related concepts and policy objectives of the plan. After that, it further clarifies the role of the resettlement method in the implementation process of the shed reform plan in promoting the house price. Finally, the paper puts forward that the housing price in this area will be affected by the resettlement method of the shed reform plan.
In the empirical study part, taking 11 prefecture level cities in Zhejiang province from 2015 to 2019 as samples, referring to the index method, we calculate the real estate bubble index of Zhejiang Province, analyze the health degree of Zhejiang real estate market in recent years, and find that Zhejiang province is in a mild bubble level. Then, the fixed effect regression model of panel data is used, and the LSDV method of clustering standard deviation is selected to analyze the correlation between the physical placement mode of the urban housing reform plan and the price fluctuation of urban commercial housing. In the research model, the number of physical resettlement of each city's shed reform plan every year is taken as the explanatory variable, the local city commodity housing sales price index is taken as the explanatory variable, and the regional GDP, per capita disposable income of residents and other factors are selected as the control variables for regression. It is concluded that physical resettlement will have a significant positive impact on the price of commercial housing.

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