(Dan Tri) - In 2 years of conducting land price surveys, the Hanoi Department of Natural Resources and Environment recorded that actual land transaction prices were 250% higher than the old price list.
The Hanoi People's Committee has just issued a new land price list effective from December 20 to the end of 2025. Compared to the old land price list, the adjusted residential land price list is 2-6 times higher.
In particular, land prices on many streets in Hoan Kiem district including Ba Trieu (from Hang Khay to Tran Hung Dao), Dinh Tien Hoang, Hai Ba Trung (from Le Thanh Tong to Quan Su), Hang Dao, Hang Khay, Hang Ngang, Le Thai To, Ly Thuong Kiet, Nha Tho, Tran Hung Dao (from Tran Thanh Tong to Le Duan) have the highest price of more than 695.3 million VND/m2.
According to the pre-adjusted land price list, the highest urban land price in Hanoi's inner city is 188 million VND/m2, on three streets: Hang Ngang, Hang Dao, and Le Thai To. Thus, the highest adjusted land price is nearly 3.7 times higher than before the adjustment.
According to the Department of Natural Resources and Environment, the basis for building the adjusted land price list is based on the results of the investigation and survey of land prices in the market over the past two years (from August 2022 to August this year) in 30 districts and 579 communes, wards and towns with more than 20,740 survey forms collected.
Regarding urban residential land, the Department of Natural Resources and Environment recorded that the transfer price of residential land on the market in districts is commonly 35-650 million VND/m2.
Particularly, in Hoan Kiem district, the transfer price is exceptionally high, such as: Hang Bong street, the transfer price is from 750 million VND to nearly 1.035 billion VND/m2; Hang Gai street, the transfer price is even higher, from 970 million VND to 1.2 billion VND/m2; Hang Thiec street, from 642 million VND to 1 billion VND/m2.
An urban area in Hanoi (Photo: Tran Khang).
Land sales in suburban towns and districts, such as Road 32 (Tram Troi Town, Hoai Duc District), Ngo Xuan Quang Street (Trau Quy Town, Gia Lam District)... also recorded 100-120 million VND/m2.
"The actual transfer price on the market is 250% higher than the same location on the city's land price list," the Department of Natural Resources and Environment assessed.
According to the Department of Natural Resources and Environment, in general, land prices according to the new table increased by an average of 190-270%.
Many opinions say that the adjusted price list is higher than before, leading to concerns that it will increase taxes and fees on land. However, according to the Department of Natural Resources and Environment, the adjustment of the land price list to gradually increase closer to the market price is a requirement that must be implemented in accordance with the provisions of the law.
Along with that, the new price list meets practical needs, reduces the difference, and gradually brings land prices in the capital closer to the market. This helps establish a synchronous policy in land management and harmonizes the interests of the State, users and those who need to use land to implement projects. Thanks to that, budget revenue increases through the implementation of financial obligations on land of people and businesses.
In cases where land taxes and fees are high and not suitable to people's income, the management agency believes that it is necessary to study reducing the tax and fee rates, not reducing land prices.
Also according to the Department of Natural Resources and Environment, the basic adjusted price list does not affect compensation and support for site clearance when the State reclaims land because the land price used as the basis for compensation and support for site clearance is a specific land price.
This specific land price is determined by the prescribed land valuation method and converted into a land price adjustment coefficient to compare with the land price of the same location specified in the land price list of the City People's Committee.
In addition, the adjustment of the land price list contributes positively to site clearance, investment attraction and development of the capital. The land price list is also the basis for calculating the starting price for auctioning land use rights when the State allocates or leases land.
"Adjusting the land price list to increase closer to market price is urgent to ensure revenue from land auctions," the Department of Natural Resources and Environment affirmed.
Source: https://dantri.com.vn/bat-dong-san/ha-noi-noi-gi-ve-bang-gia-dat-moi-co-noi-hon-695-trieu-dongm2-20241221135202474.htm
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