| Summary: | 碩士 === 國立臺灣海洋大學 === 航運管理學系 === 105 === Since the financial crisis breaking out in 2008, Taiwan government keeps the interest rate low in order to stimulate the growth of economy. In addition, lowering the estate and gift tax appeal to the return of capital, which lead to the dramatically soaring of the house prices.While the house prices soar dramatically, the income of younger generation stays stagnant. For the purpose of appeasing the grievances, Taiwan government started to implement a new policy called integrated housing and land taxation since the 1st of January in 2016. At the same time stop levying the luxury tax of houses. The main objectives of integratingthe housing and land taxation are avoiding unsuitable rise and preventing improper real estate speculation. From long term perspective, Taiwan government aims to reduce speculation in the housing market.
The purpose of this research is to investigate the impact of integrated housing and land taxation on the price and trading volume for real estate market. Three methods are adopted for understanding the influence brought by the integration of housing tax and land tax.These methods are structured analysis, questionnaire, and interview in depth.By designing a series of questions, analyzing statistically, and interviewing in detail, the consumer attitude toward the influence brought by the integration of housing tax and land tax could be examined.
This research applies two districts of New Taipei City as sample regions, which are Banqiao and Xinzhuang District. By analyzing the variation and fluctuation of the price and trading volume, this research demonstrates the influence brought by the integration of housing tax and land taxon of real estate market as below:
Firstly, according to the analyzing results, it is indicated that the house price of both Banqiao District and Xinzhuang District have not reach the standard of structural change. As for the trading volume, the research result suggests that Xinzhuang District exists structural change. The potential reason might be the lack of time period since Taiwan government implementedthe integration of housing tax and land taxon of real estate market. The investors prefer holding their capital instead of acknowledging the failure on their investment.Therefore, there is no significant trend of collapse on house prices.Another reason is that the sample regions are classified as urbanizing city, the influence brought by the integration of housing tax and land tax will not be as immediately as those urbanized city.
Secondly, although people in Taiwan are conservative in terms of implementing integrated housing and land taxation, they consider this legislation as a positive measure because it will diminish the speculation in the housing market. Additionally, people in Taiwan regard the high taxation on trading immediately as corresponding with social justice.
Hence, this research suggests that government institution should make effort on promoting the new tax system for the purpose of strengthening public confidence on it. Furthermore, improving the environment of domestic economy and the level of gross domestic production will benefitstrengthening the environment of stock market, foreign exchange market and other investment. All the benefits mentioned above help reduce the hot money investing inthe real estate market.
Key words:
Housing justice, integrated housing and land taxation, luxury tax, structured analysis
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