房地產價格異常飆漲，房價與所得差距持續擴大。政府約3個月的時間即完成特種貨物及勞務稅條例（俗稱奢侈稅）之制訂，針對持有期間在1年以內或1年以上，未逾2年之非自住房屋及其坐落基地或依法得核發建造執照之都市土地，於銷售時分別課徵15%或10%之銷售稅，以加重買賣非自用不動產稅賦，抑制房價之短期投機炒作。如此迅速且有效率的立法，也顛覆了臺灣長期以來只減稅，難以增稅的慣性，該政策對不動產市場之衝擊值得探討。 本文以臺北市、新北市及臺中市等地區為例，蒐集整理房仲業者居間買賣之房地產成交資料，選取2008年至2011年9月止，屋齡在2年以內之交易資料，並針對分布豪宅之地區加以分類，採敘述性統計與計量實證研究方法，以特徵價格理論建構住宅特徵價格模型，加入開徵特種貨物及勞務稅條例之政策因素，探討政策對該地區不動產市場之影響。研究結果，政策的事前發布，使不動產市場交易量增加，政策實施後，不動產市場之交易量減少。此外，臺北市全區、新北市全區及豪宅區之特徵價格模型中，特種銷售稅政策虛擬變項的迴歸係數均達統計顯著。在控制其他特徵屬性變數後，推論在研究期間政策下的房價仍顯著高於無政策因素下2008-2010年之之房價，此稅賦未發生抑制房價之效果。然而，特種銷售稅政策虛擬變項在臺北市之豪宅區及臺中市全區及豪宅區模型中未達統計顯著。 As an attempt to respond to the general public''s discontent over soaring real estate prices, the Taiwanese government passed the “Specifically Selected Goods and Services Tax Act” (usually referred to as the luxury tax) on April 15, 2011. Taking effect on June 1, 2011, this Act requires non-resident property owners to pay tax on the income of selling their houses purchased within two years. This study analyzed the data of real estate transactions in Taipei, New Taipei, and Taichung City where the houses were sold within two years of purchase during the period from January 2008 to September 2011. The purpose of this study is to explore the effects of the luxury tax on housing prices and transaction volume in these three cities, with a focus on the sale of luxury real estate in the most attractive districts. The results of descriptive statistics show that the number of existing houses sold was decreased after the Act implementation. However, transaction volume was increased from January to May in 2011 prior to decision announcement of the Act. The results of hedonic housing price models imply that the luxury tax during the study period had no significant effect on curbing housing prices in Taipei and New Taipei City.