| 摘要: | Numbeo 2024年資料庫顯示台灣全球房地產所得比排名第15名，且高達19.5倍，人民需花上19.5年的家庭收入才能完成購屋願望，如此沉重的負擔絕對需要制定有效的政策方針，故財政部於2021年7月1日施行「房地合一2.0稅制」，為了解該政策之施行效果，本研究透過不動產時價登錄共24,762筆資料，利用特徵價格模型(hedonic price model)探討各設定變數對不動產交易價格之影響；再藉由差異分析估計(difference-in-difference，DID)檢視該政策之成效。
實證結果顯示，建築物完成年月、屋齡、移轉面積、房間數、廳、透天厝、公寓及總樓層等變數皆具有顯著性，符合預期，而房地合一2.0政策實施後，發現2016年後完成之建築估計係數在實施前後期間變動不大，顯然對於新建完成之建築物交易價格產生抑制作用。除此之外，本研究於差異分析估計法之下，創新設定2016年以後完成之建築為實驗群體；2013年至2015年完成之建築做為控制群體，並分別建立該特定期間之變數與虛擬變數之交乘項來做比較，發現房地合一2.0政策有效抑制新成屋市場交易價格達11%；整體不動產市場亦下跌達3.2%，顯現該政策之成效。
;Numbeo′s 2024 database shows that Taiwan′s property price to income ratio ranks 15th and is as high as 19.5 times. It takes 19.5 years of household income to buy a house. Such a heavy burden absolutely requires effective policies, so The Ministry of Finance, R.O.C implemented the "House and Land Transactions Income Tax 2.0" on July 1, 2021. In order to find out the implementation effect of this policy, this study used 24,762 Real Estate Transactions declaration data and the hedonic price model to explore the impact of each set variable on the real property’s transaction price. Then examine the effectiveness of the policy through difference-in-difference (DID) analysis.
The empirical results show that variables such as the year and month of building completion, age, transferred area, number of rooms, halls, houses, apartments and total floors are all significant and in line with expectations. After the implementation of the House and Land Transactions Income Tax 2.0 policy, It was found that the estimated coefficients for buildings completed after 2016 did not change much before and after the implementation, which obviously had a suppressive effect on the transaction prices of newly completed buildings. In addition, under the difference-in-difference method, this study innovatively set buildings completed after 2016 as the experimental group; then buildings completed from 2013 to 2015 as the control group, and variables and dummy variables for that specific period are established respectively, it was found that the House and Land Transactions Income Tax 2.0 policy effectively suppressed the transaction price of new existing housing market by 11%; the overall real estate market also fell by 3.2%, showing the effectiveness of this policy. |
