Abstract: Based on the real estate historical data of top ten cities of China in 2015, the paper selects six evaluation indexes related to real estate bubble to evaluate the real estate bubble in these ten cities by use of combined weighting method. The results show that Shenzhen, Shanghai, Beijing and Nanjing have much higher degree of bubble than national bubble level, but Chongqing and Lanzhou have lower bubble degree than national bubble level; if using housing price-income ratio as the indicator to measure housing price bubble size, no matter the value 7.0 of domestic criterion or value 6.5 of international criterion, our conclusions are Chongqing has no bubble, a few bubbles at national level, to other nine cities, the bubble size increases in turn, and Shenzhen is the biggest one, almost more than 4 times above the domestic and international criterion. From the above, the real estate bubble in China is not only in structural, but also in size.

Key words: combined weighting, real estate bubbles, evaluation method