首先針對租屋市場與與購屋市場，分別估計其所得彈性與價格彈性。對租 屋者而言，僅包括消費性的需求。藉由彈性的估計，我們可知道住宅為必 需品或是奢侈品；在價格上漲時，消費者是否有議價能力。另外再將購屋 市場依不同的需求目的，如居住目的與非居住目的，估計所得彈性與價格 彈性。對非居住目的的購屋者而言，僅包含投資性的住宅需求。接著利用 估計的消費性與投資性需求彈性，計算出對只有一棟房屋的購屋者，其消 費與投資需求佔房屋支出之比例。 In this paper, we estimated the elasticity of income and price for rental and purches housing. For rental housing, it just includes the consumption demand for housing. By these estimations, we can know housing is a luxury or a necessity. When the price increase, the consumers are able to charge. On the other hand, by the different targets --- living or not, there is only one or there are two or more houses, we estimate the elasticities. For two or more houses, it just includes the investment demand for housing. Then we use the elasticities to computer the share of consumption and investment in housing expenditure.