On October 21, the Department of Natural Resources and Environment of Ho Chi Minh City announced a new adjusted land price list, aiming to overcome the unreasonable land prices from the previous price list.
On October 23, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), said that this price list has been adjusted to be more suitable for the market. Land prices in the districts increased on average from 2.36 to 38.8 times. District 3 had the lowest increase (2.36-9.72 times), while Hoc Mon led with an increase of 38.8 times, followed by Thu Duc City with an increase of 28.97 times.
Although land prices in these areas have increased significantly, the highest land price for residential land, on Dong Khoi, Le Loi, Nguyen Hue streets (District 1), has been adjusted down 15.2% compared to the previous draft. The highest price is currently VND687 million/m2, lower than the draft of VND810 million/m2 announced previously.
A plot of land in Ho Chi Minh City
Mr. Chau emphasized that the new land price list will directly affect individuals and households when applying for Land Use Rights Certificates, as well as when legalizing land use rights. However, it will not immediately affect the real estate market, because current projects are priced according to the surplus method. However, when businesses receive land transfers to develop housing projects, people may want to sell at higher prices, creating pressure to increase housing prices.
"In the short term, the adjusted Land Price List will not immediately impact the real estate market because current real estate and commercial housing projects are mainly priced using the surplus method, but it will impact the real estate market in "phase 2" when real estate enterprises receive land use rights transfers to implement real estate, urban, commercial housing, and social housing projects, people will want to sell at higher prices than before, leading to "pushing" pressure to increase housing prices" - Mr. Chau commented.
He also warned that the authorities need to effectively control the activities of speculators, land brokers and some businesses that may take advantage of this situation to inflate land prices, causing market disruption. At the same time, it is necessary to step up legal dissemination so that people, investors and businesses can better understand the new regulations.
The Department of Natural Resources and Environment will continue to develop a new land price list, effective from January 1, 2026, with the goal of ensuring land prices are consistent with reality and supporting economic development.
Source: https://nld.com.vn/canh-bao-co-dat-loi-dung-bang-gia-dat-de-dau-co-thoi-gia-bat-dong-san-196241023160305103.htm
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