Ho Chi Minh City has not yet built a new land price list according to the Land Law.

Accordingly, at the meeting on the socio-economic situation of Ho Chi Minh City, Mr. Vo Van Hoan - Vice Chairman of Ho Chi Minh City People's Committee said that public opinion is currently very interested in the new land price list. This is also information that affects many subjects, so it needs to be discussed and carefully considered.

Responding to this issue, Mr. Nguyen Toan Thang, Director of the Department of Natural Resources and Environment (DONRE) of Ho Chi Minh City, said that among the contents of implementing the revised Land Law, the provincial People's Committee is allowed to consider and use the old land price list or adjust the land price list, so Ho Chi Minh City has a policy to adjust the old land price list. The adjustment of the land price list includes 7 steps and the DONRE has completed 6 steps, all data collected by the consulting unit throughout the area has been recalibrated and transferred to the working group of the Ho Chi Minh City People's Council for consideration and appraisal.

"We have not yet developed a new land price list according to the Land Law. The new land price list will be developed and applied from January 1, 2026. The current adjusted price list is to adjust the old price, update the current land transaction price, approved compensation price, some transfer prices on the market to be correct and sufficient in the price list, ensuring that the price list is not too low to avoid loss...", the leader of the Department of Natural Resources and Environment of Ho Chi Minh City emphasized.

Mr. Thang also gave an example, there is a route where the old price list only has 1-2 million VND/m2 of residential land but the transaction price is 100-200 million VND. Therefore, it is necessary to update and re-adjust to have the most suitable land price list in this period for use.

The adjustment of land prices in Ho Chi Minh City is receiving many mixed opinions.

Previously, the Ho Chi Minh City Real Estate Association (HoREA) also sent a document to the Ho Chi Minh City People's Committee "Requesting that the Ho Chi Minh City People's Committee consider not issuing the Land Price List applicable from August 1, 2024, but should focus on developing the 'First Land Price List' applicable from January 1, 2026 according to the provisions of the 2024 Land Law"

According to HoREA, Clause 1, Article 257 of the 2024 Land Law stipulates that "The land price list issued by the Provincial People's Committee in accordance with the provisions of the Land Law No. 45/2013/QH13 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". However, HoREA finds that the issuance of the new Draft Land Price List is not yet necessary under the provisions of Clause 1, Article 257 of the 2024 Land Law.

In this Draft, land prices in many districts may increase by an average of 5-10 times. Some localities in suburban and outlying areas are even expected to increase by 15-50 times compared to the current level. This increase will affect the cost of compensation for site clearance, as land users tend to demand higher compensation than before.

When input costs are pushed higher, it will "have a chain reaction, increasing the price of buying and renting houses and the cost of renting factories in industrial parks...". HoREA believes that this is an adverse impact on social housing projects that businesses agree to receive land use rights to implement, as well as increasing the price of goods in general.

Therefore, in addition to not issuing the draft land price list at this time, HoREA also recommends that from now until 2025, Ho Chi Minh City needs to assess the impact of the first draft land price list on land users at more than 13,000 plots that have not been granted certificates, as well as on businesses and investors who need to invest in real estate projects.

The number of land records in Ho Chi Minh City continues to increase sharply, by the end of July, 300,000 records were recorded. In July alone, the entire Ho Chi Minh City area received nearly 40,000 land records, an increase of 10,000 records compared to the same period last year. Of which, the most are still sale and mortgage records.

Due to the increase in real estate records, land-related revenue of Ho Chi Minh City reached more than 12,000 billion VND in the past 7 months, an increase of 3,600 billion VND over the same period.

Source: https://www.congluan.vn/tp-hcm-chua-xay-dung-bang-gia-dat-moi-theo-luat-dat-dai-post305895.html