Ho Chi Minh City officially issues new land price list; Hanoi reviews old land price list

53% of the target of the 1 million social housing project has been achieved; 14 projects in Hanoi are eligible to "sell houses on paper", most of them are high-end; The most expensive auctioned land lot in Tien Yen commune, Hoai Duc district has been fully paid.

Ho Chi Minh City officially issues new land price list; Hanoi reviews old land price list

53% of the target of the 1 million social housing project has been achieved; 14 projects in Hanoi are eligible to "sell houses on paper", most of them are high-end; The most expensive auctioned land lot in Tien Yen commune, Hoai Duc district has been fully paid.

Below is a summary of the week's outstanding real estate news.

53% of the target of the project of 1 million social housing units has been achieved.

At the October 24 meeting of the Central Steering Committee on housing policy and real estate market, the Ministry of Construction's report said that localities have planned 9,757 hectares of land for social housing, with 622 projects being implemented with a scale of 565,177 units.

Of which, nationwide, 79 projects have been completed with a scale of 40,679 apartments; construction has begun on 131 projects with a scale of 111,687 apartments; investment policies have been approved for 412 projects with a scale of 411,076 apartments.

Buying social housing is the desire of many low-income people. Photo: Thanh Vu

However, only 83 projects in 63 provinces and cities are eligible for preferential loans from the VND120,000 billion credit package. Of these, 15 projects have been committed to a credit of VND4,200 billion, 57 projects have investors who do not need loans, 6 projects are under appraisal, and 5 projects do not meet loan conditions.

Homebuyers at 32/83 social housing projects have been able to borrow capital under the entire VND120,000 billion program with a total outstanding debt of VND2,099 billion for 5,236 customers. Of which, the outstanding debt mainly arose at the Social Policy Bank with VND2,019 billion, due to more preferential lending interest rates.

According to the Ministry of Construction, the mechanisms, policies and preferential credit sources for investors in social housing projects are still not attractive enough. The source of investment capital for construction from the budget is still limited. The procedures for purchasing, leasing and renting social housing are still complicated, especially the confirmation of documents proving housing conditions, income and residence.

The achievements in social housing development are even more significant as the price level of commercial real estate continues to rise. During the meeting, the Ministry of Construction said that in the first months of 2024, the market supply, although showing positive changes, is still quite limited.

“The structure of housing products is mostly concentrated in the middle and high-end housing segments. Housing for low-income people is still lacking, and the structure of affordable real estate products is gradually decreasing,” the Ministry’s report said.

Ho Chi Minh City officially issued land price list, highest price 687.2 million VND/m2

On October 21, Chairman of Ho Chi Minh City People's Committee Phan Van Mai signed and issued Decision 79 amending and supplementing Decision No. 02 on land price list in the city. This Decision is applied from October 31 to December 31, 2025.

Accordingly, the highest land price is 687.2 million VND/m2 on Nguyen Hue, Dong Khoi, and Le Loi streets. Thus, if not calculating the K coefficient, this price is 4.2 times higher than the old land price list, and has been adjusted down compared to the previous draft price list (810 million VND/m2).

Land prices in many districts in the new Decision have decreased significantly compared to the previous draft. Photo: Le Toan

The price on some neighboring roads such as Dong Du is 409 million VND/m2; Hai Ba Trung route is priced from 350 - 450 million VND, Ton Duc Thang street (section from Me Linh Square to Nguyen Tat Thanh bridge) is priced at 447 million VND. This price is 3 - 4.5 times higher than the old land price list but 100 - 200 million VND lower than the old draft.

In the outlying districts, there are the strongest changes, but compared to the draft, the finalized land prices have decreased significantly. Specifically, the highest proposed price for Song Hanh Highway 22 is 32 million VND/m2 instead of the proposed price in July of 71 million VND/m2, the new price has only increased 23 times instead of the previous 51 times. Or Dang Cong Binh Street, according to the new price is 18.5 million VND/m2 instead of the previously proposed price of 41 million VND/m2.

Land prices in Can Gio area are relatively lower than in some other districts. Typically, in Thieng Lieng hamlet residential area, the price is 2.3 million VND/m2, Thanh Binh residential area, Thanh Hoa residential area has the price of 3 million VND/m2.

Agricultural land prices are also divided into 3 areas and 3 locations for calculation. Area 1 includes: District 1, District 3, District 4, District 5, District 6, District 10, District 11, Binh Thanh District, Phu Nhuan District.

Area 2 includes: District 7, District 8, District 12, Tan Binh District, Tan Phu District, Binh Tan District, Go Vap District, Thu Duc City. Area 3 includes: Binh Chanh District, Hoc Mon District, Cu Chi District, Nha Be District, Can Gio District.

Agricultural land prices in the Decision are adjusted by taking the agricultural land prices according to Decision 02/2020 multiplied by a coefficient of 2.5 - 2.7.

Ho Chi Minh City issues price frame for social housing rental, lowest from 96,000 VND/m2

In addition to the new land price list, the Ho Chi Minh City People's Committee has issued a Decision regulating the rental price range for social housing and housing for the people's armed forces invested in and built according to the project.

Accordingly, the rental price frame is determined according to the formula: rental price 1 (regulated by the Ho Chi Minh City People's Committee) + rental price 2 (determined based on compensation, support, and resettlement costs allocated to each apartment, and value added tax at the time).

Social housing project for workers to rent in Thu Duc City.

For rental price 1, the lowest level in the Decision is VND 96,000/m2/month (including 5% VAT) applied to social housing projects and housing for armed forces with a maximum height of 5 floors and no basement.

Thus, for only component 1 of rental price, the rental price for a social housing apartment with a minimum area of ​​25 m2 will be 2.4 million VND/month, not including rental price 2.

For buildings with a maximum height of 5 floors, but with 1, 2, 3 basements, the rental price will increase to 112,000 VND, 127,000 VND and 142,000 VND/m2/month, respectively. For buildings with 45 - 50 floors and 3 basements, the highest rental price is set at 235,000 VND/m2/month.

Hanoi urgently reviews old land price list, prepares to build new land price list

On October 22, the Ministry of Natural Resources and Environment (MONRE) coordinated with the Hanoi People's Committee to organize an online training conference on the 2024 Land Law, the 2023 Price Law and the Government's Decree detailing and guiding the implementation of the Law.

Within the framework of the event, Deputy Minister of Natural Resources and Environment Le Minh Ngan requested the city leaders to urgently review the land price list issued under the 2013 Land Law to adjust it to suit the actual situation in the locality.

At the same time, the Ministry also requested the city to prepare the necessary conditions for the construction of the price list according to the 2024 Land Law. In particular, the city needs to focus on analyzing and assessing the impact, have a suitable roadmap, and organize to collect opinions from relevant units, organizations, and individuals to ensure consensus and limit negative reactions and lack of consensus in society.

The most expensive auctioned land lot in Tien Yen commune, Hoai Duc district has been fully paid.

According to the People's Committee of Hoai Duc district, 11/19 auctioned land lots in Long Khuc area, Tien Yen commune have paid in full. Of which, the person who won the land lot with the highest price, up to 133.3 million VND/m2, has also paid in full according to the announcement of the Hoai Duc Tax Department.

Investors see the land plot worth 133.3 million VND/m2. Photo: Thanh Vu

For the 8 lots that have not been paid for, the auction winner has committed to fulfilling financial obligations before November 27, 2024, which is also the deadline according to regulations.

Previously, the auction of 19 plots of land in Long Khuc area caused a stir in public opinion when the event lasted until 4am. Although the plots of land only had a starting price of 7.3 million VND/m2, the winning prices were sky-high, mostly fluctuating around 97.3 - 121.3 million VND/m2. The corner plot LK03-12 alone had the highest price at 133.3 million VND/m2.

Talking to a reporter from the Investment Electronic Newspaper - Baodautu.vn , Mr. TN, a land auction hunter, said that the Long Khuc area, Tien Yen commune has a high price because it is located right next to Ring Road 4. In recent suburban land auctions in Hanoi, almost no land has such a prime location.

The auctioned land is bordered to the northeast by the main traffic road of Tien Le village and Tien Yen Kindergarten. The south and east borders agricultural land. The west borders agricultural land and a lake. The land is located about 8 meters from Tien Le road and about 400 meters from Ring Road 4.

52 plots of land next to the 133 million VND/m2 lot in Hoai Duc are about to be auctioned, the winning price may be even higher

Long Khuc area, Tien Yen commune, Hoai Duc district (Hanoi) is about to hold 2 more auctions in November 2024. This is also the place where the land lot with the highest auction price is recorded, up to 133 million VND/m2.

First, the auction of 20 plots of land (LK01 and LK02) will be held on November 4. The deadline for receiving registration documents to participate in the auction is November 1. These plots of land have an area ranging from 89 - 145 m2 and are located opposite Tien Yen Kindergarten.

Map of auctioned land in Long Khuc, Tien Yen commune, Hoai Duc district.

Next is the auction of 32 plots of land (LK05 and LK06) on November 11. The deadline for receiving applications is November 8. The plots of land have an area of ​​about 97 - 172 m2 and are located right next to the lake, especially LK06 is also located next to social housing. Investors and buyers can see the detailed map of the auctioned land in Long Khuc, Tien Yen commune, Hoai Duc district at this link.

The remaining factors such as starting price, minimum number of rounds, and price steps are similar to the previous auction of 19 plots (LK03 and LK04). Specifically, all plots have a low starting price, still only 7.3 million VND/m2. The minimum number of auction rounds is still 6 rounds and the price step applied to all plots is also kept at 6 million VND/m2.

Regarding the deposit - a factor that many experts consider a loophole that many groups take advantage of for profit - the amount remains around 200 million VND/lot and has not fluctuated much compared to the previous auction.

Specifically, 20 plots of land in LK01 and LK02 areas have a deposit of 130 - 212 million VND/plot. The remaining 32 plots in LK05 and LK06 areas have a deposit of 141 - 251 million VND/plot. Previously, 19 plots in LK03 and LK04 areas also had a down payment of only 109 - 172 million VND/plot.

With the two upcoming auctions remaining almost unchanged in terms of mechanism and price, it is likely that the land lots will continue to exceed the 100 million VND/m2 mark. New records may even appear, because according to the reporter of the Investment Electronic Newspaper - Baodautu.vn , many investors have already set their eyes on the lakeside land lots (LK05 and LK06 areas) since the previous auction.

14 projects in Hanoi are eligible to "sell houses on paper", most of them are high-end products.

On October 24, the Hanoi Department of Construction announced 14 future housing projects that are eligible for business under the Law on Real Estate Business. The projects listed below are updated from the beginning of the year to October 24, 2024.

Notably, among the announced projects, only one social housing project is about to be opened for sale. Meanwhile, the remaining projects are mostly villas, shophouses and luxury apartments.

For example, Langs Village office and low-rise residential area (Lang Thuong ward, Dong Da district). The project will put into business 11 low-rise apartments with prices up to more than 600 million VND/m2.

In addition, the Tay Nam Me Tri housing group (Phu Do ward, Nam Tu Liem district) will also open for sale 65 low-rise units, including townhouses and villas. The selling price will not be less than 20 billion VND/unit.

Another case of opening for sale is Sunshine Crystal River, commercial name is Noble Crystal Tay Ho (Phu Thuong ward, Tay Ho district). The project will bring to the market 955 high-rise apartments and 60 low-rise apartments. Currently, the price of townhouses here is about 300 million VND/m2, apartments are approximately 200 million VND/m2.

The only social housing project is CT-05 and CT-06 buildings in the Thanh Lam - Dai Thinh 2 new urban area project (Thanh Lam and Dai Thinh communes, Me Linh district). This project will bring to the market about 214 apartments, with prices ranging from 13.5 to 15.5 million VND/m2.

Readers can view information of 14 projects at this link.

Nghe An hands over nearly 273,000 m2 of land to enterprises to implement urban area projects

On October 22, the People's Committee of Nghe An province issued Decision No. 386/QD-UBND on land allocation (phase 1) to Eurowindow Sport City Real Estate Investment and Development Company Limited to implement the investment project to build a new urban area in Dong Vinh ward and Cua Nam ward, Vinh city.

Accordingly, the People's Committee of Nghe An province assigned 272,762.9 m2 of land (phase 1) in Dong Vinh ward, Vinh city to Eurowindow Sport City Real Estate Investment and Development Company Limited to implement the investment project to build a new urban area.

Specifically, for 111,208.9 m2 of urban land to build low-rise housing areas according to approved planning: The State allocates land with land use fees; land use term is 50 years, from the date of issuance of this Decision.

For 18,478.3 m2 of urban land for the construction of social housing areas: The form of land allocation with land use fee collection but land use fee exemption, the investor does not have to carry out procedures for determining land price, calculating exempted land use fee and does not have to carry out procedures for requesting exemption of land use fee and land rent. The land use term is 50 years, from the date of issuance of this Decision.

For 143,075.7 m2 of land used for the purpose of constructing non-commercial technical and social infrastructure works of the project: The State allocates land without collecting land use fees. After completing construction according to the planning, Eurowindow Sport City Real Estate Investment and Development Company Limited is required to hand it over to Vinh City People's Committee for management and use according to regulations.

Source: https://baodautu.vn/batdongsan/tphcm-chinh-thuc-ban-hanh-bang-gia-dat-moi-ha-noi-ra-soat-bang-gia-dat-cu-d228335.html