Not getting a red book early before 2026 will cost a lot of money?

After the 2024 Land Law was issued, many people worried that if they did not get a red book early before 2026, they would lose more money.

Issue annual land price list

From January 1, 2026, provinces and centrally run cities will issue new land price lists based on market principles. This means that land prices will be determined based on the actual value of the land, instead of based on the minimum and maximum price frames as in the 2013 Land Law.

Specifically, according to Clause 1, Article 257 of the 2024 Land Law, the land price list issued by the provincial People's Committee in accordance with the provisions of the 2013 Land Law shall continue to be applied until December 31, 2025; if necessary, the provincial People's Committee shall decide to adjust the land price list in accordance with the provisions of this law to suit the actual situation of land prices in the locality.

Clause 3, Article 159 of the 2024 Land Law stipulates that the Provincial People's Committee shall develop and submit to the People's Council of the same level for decision on the first land price list for promulgation and application from January 1, 2026. Every year, the Provincial People's Committee shall submit to the Provincial People's Council for decision on adjustment, amendment, and supplementation of the land price list for promulgation and application from January 1 of the following year.

Accordingly, the land price list will be updated annually in accordance with market prices in places with fluctuations, no longer periodically every 5 years as at present.

In particular, the land price list is built according to area and location based on land prices ensuring market principles.

Specifically, Clause 2, Article 159 stipulates that land price tables are built according to area and location. For areas with digital cadastral maps and land price databases, land price tables are built for each plot of land based on value areas and standard plots of land.

Currently, the land price list is issued every 5 years based on principles, valuation methods, land price framework and is only adjusted when the Government adjusts the land price framework/land prices fluctuate.

However, the 2024 Land Law has removed the land price framework. The land price list is issued based on the valuation method, not based on the minimum and maximum land prices of each type of land according to the current land price framework. Thus, the new land price will approach the market price.

Thus, the application of the new land price list may lead to an increase in the cost of making the first red book. There are payments based on the land price in the land price list, including land use fees, land rent and registration fees, of which land use fees are the most.

From January 1, 2026, the cost of making a red book will increase due to changes in land price list (Photo: IT).

Land is priced close to market

Article 158 of the 2024 Land Law stipulates the method of land valuation based on market principles. The bases for land valuation include:

- The purpose of land use is given for valuation;

- Land use term. For agricultural land that has been allocated by the State to households and individuals according to the agricultural land allocation quota, agricultural land within the quota for receiving transfer rights, the land use term is not based on;

- Input information for land valuation according to land valuation methods;

- Other factors affecting land prices;

- Provisions of relevant laws at the time of land valuation.

According to the 2024 Land Law, input information for land valuation according to land valuation methods prescribed in Point c, Clause 2, Article 158 includes:

- Land prices are recorded in the national land database and national price database;

- Land price is stated in the land use rights transfer contract;

- Winning price of land use rights auction after completing financial obligations;

- Land prices collected through investigation and survey in cases where there is no land price information specified in Point a and Point b of this Clause;

- Information on revenue, expenses, income from land use.

With specific regulations on valuation methods and the issuance of annual land price lists from January 1, 2026, removing the land price framework, land prices will be closer to market prices and increase the cost of making red books.

Source: https://dantri.com.vn/bat-dong-san/khong-lam-so-do-som-truoc-nam-2026-se-mat-rat-nhieu-tien-20240630180020721.htm