China's real estate price rises continuously,which caused heated controversy about real estate bubbles.This paper innovatively proposes a hybrid intelligent system combining efficacy coefficient method and artificial neural network(ANN)that predicts the bubble degree of real estate for breaking through the limitations of conventional method.This paper conducts an empirical analysis on the real estate bubble in Beijing using the market data.Then it points out that real estate bubble warning system plays an importance role in preventing the occurrence of the real estate bubble and evaluating China real estate market's healthy and harmonious development.