The prosperity of real estate in our country makes great contributions to the development of the national economy.The prices of real estate in recent years,however,rise rapidly and the government achieves little on supervision,all of which may give birth to bubbles of real estate and harm the long stable development of the national economy.From the aspects of ideas of real estate,consuming behavior,economic situation,system foundation and international influence,this paper analyses the reasons for bubble risks of real estate in depth,which is significant to the macro-manipulation of real estate and the avoidance of bubble risks of real estate.