Prediction of urban land price based on Grey-Markov model

Urban land price is a significant index of the social-economic development. It´s very important to establish scientific and appropriate mathematic prediction model to forecast its change trend. The methods of Conventional prediction including trend line, Grey model and so on. For the systems with apparent fluctuation, such as the land price prediction, the precision of prediction is lower. However, Markov model could solve the problem of randomness and great changed data which is based on the stability ineffectiveness theory. So, we combine the two models and build the Grey-Markov prediction model to forecast the urban land price of Tangshan city. The conclusion reveals that the new model has higher accuracy in prediction of urban land price. But there is also some limitation in different conditions and it should be improved by more research.