• 沒有找到結果。

第五章 結論與建議

第二節 建議

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幣的不良影響。除此之外,政府若能適當調整地價稅、房屋稅與土地增值 稅等相關不動產持有及交易之實質稅率,除可增加地方稅收、促進地方建 設與福利外,進一步更可能降低空屋率,促進土地資源的有效利用。惟稅 制改革牽涉的層面過廣,實際的做法與配套措施應審慎評估考量。

二、 後續研究建議

(一)擴大研究時空範圍

本研究受限於資料處理與取得不易,僅針對台北市進行分析探討,而 在不同地區,影響房價走向的因素亦有差異,且總體經濟因素屬於各縣市 整體綜合資料,而房價則較有地緣性,故若擴大研究範圍,在其他縣市是 否會得出相同的結論,則有待進一步的研究探討。此外,由於本研究欲比 較金融海嘯前後的差異性,加上內政部住宅價格簡訊資料與實價登錄資料 差異性頗大,且租賃樣本數過少,故本研究僅選取金融海嘯前後三年、實 價登錄施行前的價格簡訊與崔媽媽基金會之成交樣本進行實證,而未能對 近兩三年住宅市場進行分析,日後相關研究若能善用交易資訊更為詳細的 實價登錄資料,將能更有效掌握其他變數對房價的影響,提升整體不動產 市場分析的準確程度。

(二)以交易後出租的樣本進行實證

本研究受限於資料保密的限制,僅能取得租賃與交易案例的座標點位,

除難以進一步判斷同一標的,在本研究的實證期間有無交易後出租的情形,

即便座標點位相同,但符合條件的案例數量亦不足夠,因此僅能透過迴歸 結果對樣本的可能成交租金與價格進行設算。未來實價登錄的資料增加後,

若以實際的交易價格與租金資料進行實證分析,對租價關係將能進行更精 確與深入的探討。

(三)擴增實證樣本的選取

本研究受限於研究期間住宅大樓的租賃案例稀少;且房地產交易價格 簡訊的登記欄位中,未有關於車位等公設的紀錄,惟車位的考量對於交易

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總價、單價的推估上影響甚鉅,依此,本研究僅以公設相對單純、不含車 位的住宅公寓作為實證對象。2012 年 8 月過後實價登錄施行後,可獲取的 租賃案例較多,且交易內容可取得的相關變數、含車位與否等資訊較易取 得,建議未來相關研究可以住宅大樓進行分析。

(四)由國際資金流入對房市的影響切入探討

本研究著重於檢視台北市當前支持房價的因素,即探討支撐房價的「內 在經濟」,故以住宅的使用收益價值、經濟走勢為切入點,作為探討房價支 撐論點之基礎。惟除此之外,由於不動產的資產性質強,因此許多國際資 金也常會往世界各國被認為有利可圖的不動產市場流動。當過多的國外資 金流入房市,並進行投機性活動時,將造成房價與其自身經濟負擔能力脫 節,使房價水準遠超越了該地區的租金與薪資水準,待國際資金抽出時,

若「內在經濟」的支撐面不足,將引發「外在經濟」導致的房市泡沫。依 此,未來研究亦能以全球總體經濟與國際資金流向作為切入點,進行房市 泡沫預期的分析基礎。

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