The issuance of a new land price list by Ho Chi Minh City with an increase many times higher than the old land price list has attracted the attention of many members in the real estate market.
The issuance of a new land price list by Ho Chi Minh City with an increase many times higher than the old land price list has attracted the attention of many members in the real estate market.
The new land price list in Ho Chi Minh City has increased from 4 to 38 times compared to the old land price list, depending on location and area. In particular, the highest land price on Nguyen Hue, Le Loi, Dong Khoi streets (District 1) is up to 687.2 million VND/m2, an increase of more than 4 times compared to the old price. Ham Nghi and Han Thuyen streets (District 1) also have a price of about 430 million VND/m2, an increase of about 4 times. Particularly for suburban areas such as Hoc Mon district, land prices have increased up to nearly 39 times compared to the old price list.
Regarding the new land price list in Ho Chi Minh City, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA) said that there will be 4 cases of land users affected by this adjustment.
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| There will be many cases where land users will be affected by the adjustment of the new land price list in Ho Chi Minh City. |
Firstly, in case an individual needs to apply for recognition of land use rights. First of all, there are 13,035 land plots for which the land user has not been granted the first Certificate.
Second, the land user requests to change the land use purpose for the agricultural land area and non-agricultural land area in the same plot of land with a house, where the land area for housing construction has a pink book, located interspersed in urban areas and rural residential areas.
Third, land users request to separate land plots for residential land, agricultural land, non-agricultural land that is not residential land and simultaneously change the land use purpose to residential land to divide among children and grandchildren.
Fourth, in the case of individuals and households whose houses and land are located in "suspended planning" areas such as newly built residential areas, renovated residential areas or in "suspended projects" typically the Binh Quoi Thanh Da project.
Because for many years, the people in the suspended project have had their land use rights suspended. However, if the suspension is lifted, they may be disadvantaged a second time when they may have to pay higher land use fees than before.
This expert also said that the new land price list in Ho Chi Minh City has not yet had an immediate impact on the real estate market. The reason is that real estate and commercial housing projects are currently priced mainly by the surplus method. However, when businesses receive land use rights transfers to implement projects, people want to sell at higher prices than before, leading to pressure to increase housing prices.
From the perspective of a business leader, Mr. La Cam Nam, General Director of An Phuc Loc Real Estate Company, said that the new high land price list in Ho Chi Minh City will make people worry about price increases. This will create a domino effect, and sellers will increase their house prices. In addition, the high land price list in Ho Chi Minh City will make it difficult for real estate project investors to spend more money to create land funds to develop projects. At that time, the market will filter. Only investors with large financial capacity can have land funds and develop projects.
“The market will have less supply. Investors cannot find new planning areas to develop projects because they do not have the ability to buy individual plots of land from people and then compensate them according to market prices,” said Mr. Nam.
Mr. Ta Trung Kien, Deputy Director of Wowhome Real Estate JSC, also commented that having a new land price list that is basically close to the market price will be convenient for businesses when implementing projects. They will calculate the cost from the beginning and can estimate the costs.
“The selling price of the product to customers after deducting costs may increase compared to before, due to the application of the new land price list, but investors can balance it by calculating the surplus. For project investors who have handed over apartments to customers, if there is a new land price list, they will understand the costs and quickly make the certificates for customers. However, if the tax is high, they have to pay a lot of money, while the asset is the apartment that has been handed over to customers, they feel burdened, unreasonable”, Mr. Kien shared and added that the investor's future projects will definitely have all input costs included, including land use tax. All updated prices will be higher than in the past.
Previously, at the press conference on the afternoon of October 22, Mr. Nguyen Toan Thang - Director of the Department of Natural Resources and Environment of Ho Chi Minh City also admitted that the adjustment of land price list has affected the demand for land use purpose change of some people in the city.
To address the above impacts, the Prime Minister has assigned the Ministry of Finance to develop and advise the Government to issue a Decree regulating exemption and reduction of land use fees for cases not yet specified in Clause 2, Article 157 of the 2024 Land Law, including cases of land use purpose change of households and individuals. Ho Chi Minh City will also try to provide comments so that people who own agricultural land are not greatly affected.
Source: https://baodautu.vn/batdongsan/do-tac-dong-cua-bang-gia-dat-moi-tai-tphcm-d228142.html
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