Ⅰ. Introduction Ⅱ. Literature Review Ⅲ. Model and Data 3.1 Basic Theoretical Model 3.2 Research model 3.3 Data Ⅳ. Empirical Results 4.1 Tests on unit root 4.2 Tests on cointegration 4.3 Regression results 4.4. Historic and forecasted ageing impact on housing prices Ⅴ. Conclusion References