摘要
本研究將從總體經濟面及立法面，對我國不動產市場之影響作推估及分析。總體經濟面將討論全球無上限量化貨幣寬鬆的資金流向、疫情後的經濟復甦、過熱的股票市場及不動產相關行業發展狀況；立法面，將從總體經濟面之各參數發現我國房價非常態之飆升，進而討論到2016年之房地合一稅實施背景及其成效，而後2020年房地合一稅2.0之草案差異，以及其修正初版之遺漏處。
再佐以深度訪談法，了解業界前輩對於本次房地合一稅2.0草案之諸多想法，探討是否真的能達到遏制炒房投機行為之實，及對未來不動產市場較深遠之影響。
本研究推估，房地合一稅2.0上路前，恐如2016房地合一稅施行前一年，投資客逃命潮湧現，房價微微下降，交易移轉量大幅上升，直到實施後，不動產市場迅速冷卻，中古屋房價及交易量如死水般靜止，對首購族影響不大，房價也不會下跌。
本研究亦建議政府機關，必須詳議不動產相關持有稅制後再行實施，雖有諸多學者、民間團體之提倡，但其模稜之處還須一一討論，避免倉促立法造成反效果，徒增民怨。

關鍵字： 房地合一稅、不動產市場、貨幣寬鬆政策、總體經濟面、不動產景氣循環、實價課稅、K型復甦

Abstract
First, this research will estimate and analyze the impact of real estate market from macroeconomic and national policy. On the Overall economic, this research will discuss the quantitative easing policy, the economic recovery after the COVID-19, the overheated stock market and the development of real estate-related industries; On the national policy, we discussed the background of House and Land Transactions Income Tax and its effect in 2016, and the differences in the draft of the reform real estate taxation 2.0 in 2020, as well as the omissions in the first revision one.
With the in-depth interview method, we can understand the many thoughts of the interviews who are predecessors on the real estate related industries, and explore whether it can really curb short-term real estate speculation and have far-reaching consequences on the future real estate market.
This research estimates that before real estate taxation integration 2.0 practice. As before the implementation of the House and Land Transactions Income Tax in 2016, there are lots of status popped up, such as the speculators escaped, housing prices dropped slightly, and transaction transferred rose sharply. Until after the implementation, the real estate market cooling down quickly, the prices and transaction volume of pre-owned houses are stagnant. However, the amendment draft includes new pre-sale homes, equity transactions, and changes the tax rate of houses purchased by profit-seeking Enterprise as natural person.
This study also suggests that government must discuss carefully on the real estate- property tax before implementing it. Although many scholars and non-governmental organizations have advocated it, the ambiguities must be discussed to avoid causing opposite effects.

Keywords: House and Land Transactions Income Tax, The real estate market, Quantitative easing, Overall Economic, Business Cycles of the Real Estate, K-Shaped Recovery

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