Impacts of the new land price list on Ho Chi Minh City residents

On the afternoon of October 22, Vice Chairman of the Ho Chi Minh City People's Committee Bui Xuan Cuong chaired a press conference to announce the decision related to the adjusted land price list in Ho Chi Minh City. Leaders of the Department of Natural Resources and Environment, representatives of leaders of relevant departments and branches attended the meeting.

Mr. Bui Xuan Cuong said that the adjusted land price list of Ho Chi Minh City is an important decision, affecting many aspects of economic and social life and aiming to concretize the 2024 Land Law.

Mr. Bui Xuan Cuong, Vice Chairman of Ho Chi Minh City People's Committee, chaired the press conference (Photo: Q.Huy).

According to the leader of the Ho Chi Minh City People's Committee, the previous land price list of the city was built in 2020, limited by the land price framework according to Decree 96 of the Government. Specifically, the highest land price in special urban areas was 162 million VND/m2, which is no longer suitable and does not accurately reflect the actual land price in the locality.

"Therefore, the Ho Chi Minh City People's Committee finds it necessary to adjust the land price list according to the 2024 Land Law to suit the actual situation. In the process of developing the adjusted land price list, the city listened to the opinions of many agencies and units, including local people and businesses," Mr. Bui Xuan Cuong shared.

Clarifying the newly announced adjusted land price list, Director of the Department of Natural Resources and Environment of Ho Chi Minh City Nguyen Toan Thang said that fees, taxes, land use fees and financial obligations related to land will be public, transparent and fair. In addition, penalties for land violations will also increase, contributing to deterrence, cleaning and making the real estate market healthy.

Director of the Department of Natural Resources and Environment of Ho Chi Minh City clarifies the contents of the adjusted land price list (Photo: Q.Huy).

In addition, the adjusted land price list also helps determine the starting price for land use auctions. For those whose land is recovered, the determination of resettlement prices will be more public, transparent and faster than before, ensuring fairness in land recovery prices.

"In addition to the above positive impacts, the adjustment of land price list may affect the demand for land use purpose change of some local people. To address these impacts, the Government has assigned the Ministry of Finance to advise on the issuance of a Decree on exemption and reduction of land use fees, including land use purpose change of households and individuals in some cases," Mr. Nguyen Toan Thang shared.

On the same morning, the Ho Chi Minh City People's Committee issued a decision to amend and supplement Decision No. 02 of the City People's Committee regulating the land price list in the area. The adjusted land price list of Ho Chi Minh City will be applied from October 31 to December 31, 2025.

Source: https://dantri.com.vn/bat-dong-san/cac-mat-tac-dong-cua-bang-gia-dat-moi-den-nguoi-dan-tphcm-20241022150617726.htm