Land subdivision and sale before merging into Thanh Hoa City
On June 25, Mr. Mai Xuan Liem, Vice Chairman of Thanh Hoa Provincial People's Committee, signed to publicly announce the areas where land use rights are transferred in the form of subdivision and sale of land plots before organizing the implementation of the New Residential Area Project No. 02, Rung Thong Town, Dong Son District (Rung Thong New Urban Area).
Accordingly, at the New Residential Area No. 02 project, there will be 318 lots out of a total of 511 residential land lots according to the approved detailed planning, except for 193 residential land lots located at the frontage of the roads, which will be transferred land use rights in the form of dividing lots and selling land to people to build their own houses.
Also according to the above document, the New Residential Area No. 02 project was approved by the People's Committee of Dong Son district for detailed construction planning at a scale of 1/500 in Decision No. 1926/QD-UBND dated June 6, 2024 with a planned land area of 25.1 hectares.
Inside MB3220 Dong Son district with hundreds of plots of land, only a few plots are occupied.
The project is implemented in Rung Thong town, Dong Son district with the northern boundary bordering the residential area south of National Highway 45 (OM19, OX41); the southern boundary bordering Le Hy street; the eastern boundary bordering Thong Nhat street; the western boundary bordering the resettlement area and land exploitation of Toan Dan residential area.
In which, detailed regulations on areas where land use rights cannot be transferred in the form of subdivision and sale include 193 residential plots. Specifically, 81 plots are located on the frontage of Ring Road 2.5 (section 3-3; red line boundary 45.0m): LK3:10 to LK3:18; LK4:10 to LK4:18; LK5:10 to LK5:18; LK6:09 to LK6:16; LK7:01 to LK7:08; LK8:01 to LK8:06; LK9:01 to LK9:09; LK10:01 to LK10:09; LK11:01 to LK11:09; LK12:01 to LK12:04; LK13:01.
On the frontage of Le Hy Street, there are 112 lots that are not allowed to transfer land use rights in the form of subdivision and sale. Specifically, lots LK13:08 to LK13:14; LK14:08 to LK14:14; LK15:11 to LK15:20; LK16:10 to LK16:18; LK17:10 to LK17:18; LK18:10 to LK18:18; LK19:10 to LK19:18; LK20:10 to LK20:18; LK21:09 to LK21:16; LK22:08 to LK22:14; LK23:10 to LK23:18; LK24:08 to LK24:18; LK25:11 to LK25:20.
Notably, the permission to divide and sell land plots was given by the leaders of Thanh Hoa province in the context that Dong Son district is expected to soon merge into Thanh Hoa city at the end of this year. At the same time, the division and sale of land plots at the above project is quite close to the time when the Law on Real Estate Business (amended) will take effect from August 1, 2024.
In a quick discussion with Nguoi Dua Tin about the subdivision and sale of land plots at the above project , a leader of Dong Son district said that the subdivision and sale of land plots by Dong Son district is in accordance with regulations because the district has not yet merged into Thanh Hoa city and at the same time, the new regulations have not yet taken effect, so it is not yet prohibited from subdivision and sale of land plots. Meanwhile, all frontage plots must be built synchronously before being sold, so it does not greatly affect the appearance of the urban area.
"Control" the subdivision and sale of land in large urban areas
On the morning of June 29, at the 7th Session of the 15th National Assembly, the National Assembly voted to pass the Law amending and supplementing a number of articles of the Land Law No. 31/2024/QH15, the Housing Law No. 27/2023/QH15, the Real Estate Business Law No. 29/2023/QH15, the Law on Credit Institutions No. 32/2024/QH15 and taking effect from August 1, 2024, 5 months earlier than expected. In particular, the Real Estate Business Law has a number of notable contents related to the subdivision and sale of land plots, which have attracted the attention of many people and real estate businesses in recent times.
In the new regulation, it is not allowed to transfer land use rights to individuals who build houses themselves, divide plots of land for sale in wards, districts, cities of special, type I, II and III urban areas and in cases of auctioning land use rights to invest in housing construction projects according to the provisions of the Land Law. Also according to this new regulation, from August 1, Thanh Hoa province will have 3 urban areas that are "whistled" for banning land division and sale, including wards of Thanh Hoa City, Sam Son City and Bim Son Town.
According to some real estate investors in Thanh Hoa City, subdivided land will be easier to "sell" because the investment cost is lower than the type of unfinished houses, so it is of interest to many people, especially speculators, because of the reasonable price, no need to build a house...
"When the real estate business law comes into effect, it is predicted that land in Thanh Hoa's urban areas will become scarce, so it is predicted that this type of land will have a wave of price increases. However, it is mainly speculators, not many people with real demand," said Mr. Phan Viet Huy, a real estate investor in Thanh Hoa City.
In fact, according to experts, in addition to some benefits such as low prices, freedom of construction, and easy access to finance for many buyers, the subdivision of land for sale is no different from "poison" for urban areas, with the reason that the situation of indiscriminate subdivision of land for sale has contributed significantly to making the urban landscape become shabby, unsynchronized, and even abandoned due to land speculation... Therefore, this new regulation is expected to help urban areas develop sustainably, in an orderly and more beautiful way, ensuring the value of planning, architecture, aesthetics, and social security issues in the long term.
Many plots of land for sale in Dong Son district are abandoned. Meanwhile, the technical infrastructure is degraded and wasted due to lack of residents.
Regarding this issue, through an exchange with the press, Mr. Duong Quoc Thuy - Chairman of the Can Tho City Real Estate Association (CaREA) said that with the new regulation, the number of land products from subdivision in the coming period will decrease. Scarce supply will cause land prices to increase. However, Mr. Thuy also affirmed that in the long term, this will help the market develop more healthily.
Meanwhile, Professor Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, commented that in recent years, land subdivision and sale has not only met the needs of a segment of people with moderate incomes, but the price to pay is too high.
"There were times when the whole society was busy dividing and selling land, everyone was chasing after land when there was no need to live. Land became a place to hoard money for nothing. While the economy needed money to circulate, it invested all of it in land. Massive subdivision, ghost projects, creating virtual waves right in the rubber forests in the Southeast region or tea hills in Lam Dong... are very sad stories. Tightening the subdivision and selling of land will prevent the situation of virtual land fever and ghost projects like what happened in the past years," said Mr. Vo.
According to Mr. Nguyen Quoc Khanh, Vice President of the Vietnam Real Estate Brokers Association, tightening the subdivision and sale of land to reduce speculation is very necessary, avoiding wasting unused resources that are only used for buying and selling. However, Mr. Khanh also said that in the past, land was wasted, but if the new law is not managed closely and synchronously by the government, it is easy for cases of building a shell house to justify it to happen.
In June 2024, Thanh Hoa continued to collect voters' opinions on merging Dong Son district into Thanh Hoa city and achieved high consensus. It is expected that by the end of this year, Dong Son district will officially merge into Thanh Hoa city.
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