Residential land price in Ho Chi Minh City is highest at 687 million VND/m2 according to the latest draft

According to the draft Decision amending and supplementing Decision 02/2020 on land price list in Ho Chi Minh City submitted by the Department of Natural Resources and Environment (TN&MT) to the Ho Chi Minh City People's Committee today (October 16), the area of ​​Dong Khoi, Le Loi, Nguyen Hue streets (District 1) is the place with the highest land price at 687 million VND/m2.

This price is 4 times higher than the previous price list (162 million VND) but has decreased compared to the previous draft land price list of 810 million VND.

Some other areas in the center of Ho Chi Minh City with high land prices according to the draft adjusted land price list are Le Thanh Ton Street with 491 million VND/m2 (previously nearly 116 million VND/m2), Lam Son Square Street with 491 million VND/m2 (previously 115.9 million VND/m2), Le Duan Street with 466.7 million VND/m2 (previously 110 million VND/m2)...

Dong Khoi Street (District 1) is one of the places with the highest land prices in Ho Chi Minh City according to the draft adjusted land price list (Photo: Nam Anh).

In District 3, the latest draft of the adjusted land price list has a downward trend compared to the previous proposed price list. In particular, the road with the highest land price is Cong Truong Quoc Te Street with 340.2 million VND/m2, instead of up to 420 million VND/m2 as previously proposed (according to the old price list, it was 79.2 million VND/m2).

One of the issues that has received public attention recently is the excessive increase in land prices in suburban areas and outlying districts in the previous draft of the adjusted land price list. In the latest draft, land prices in these areas have decreased significantly.

According to the old draft, the land price of Highway 22 Parallel Road was 71 million VND/m2, more than 50 times higher than the old price of 1.4 million VND/m2 without taking into account the land price adjustment coefficient. In the latest draft, the land price in this area is only 32.2 million VND/m2.

According to the leader of the Department of Natural Resources and Environment of Ho Chi Minh City, the new draft land price has been adjusted compared to the old version to consider balancing land prices in neighboring areas. In addition, the adjusted land price list will be equal to about 50% of the market price.

According to the draft of the previously adjusted land price list of the Department of Natural Resources and Environment (TN&MT) of Ho Chi Minh City, urban land prices have increased from 5 times to 20-30 times compared to the price list applied from 2020. On central routes such as Dong Khoi, Le Loi, Nguyen Hue (District 1), the highest residential land price is up to 810 million VND/m2.

Some other streets in the city center also cost several hundred million VND/m2, 5 times higher than the old price, such as Lam Son Square (579.5 million VND/m2), Ton Duc Thang Street (from Me Linh Square to Nguyen Tat Thanh Bridge, 528 million VND/m2), Paris Commune, Me Linh Square (484 million VND/m2).

In Thu Duc City, many roads have also increased in price many times. Tran Nao Street increased from 13-22 million VND/m2 to 149 million VND/m2. Roads located in Thao Dien Ward, which previously cost only about 7.8 million VND/m2, are expected to increase in price from 88-120 million VND/m2.

In Hoc Mon, Nha Be, Binh Chanh, Can Gio and Cu Chi districts, land prices according to the old adjusted price list also increased, in some places 20-30 times higher than the old land price list.

Source: https://dantri.com.vn/bat-dong-san/gia-dat-o-tai-tphcm-cao-nhat-687-trieu-dongm2-theo-du-thao-moi-nhat-20241016212440163.htm