New Land Law helps agricultural land and forest land to achieve multiple purposes

The time of land brokers is over

A few years ago in Thua Thien Hue , from rural to urban areas, it was not difficult to see signs advertising land and houses for sale anywhere. At coffee shops, buyers, sellers, and brokers (also known as “land brokers”) often gathered to exchange and buy and sell busily.

At that time, every time I went on a business trip, I could see many teachers, students, taxi drivers... working as "land brokers" and "investors" in land trading in the localities. At least a few tens of millions of dong were invested, at most billions of dong were spent. Once they bought land today, they would sell it again a few days later and make a profit, even a big profit. At this time, many "armies" appeared in localities and villages to hunt for garden land, rice fields with an area of ​​1-2 hectares, or 3-4 hectares to divide into plots, sell land... Many cases became rich quickly thanks to that. However, there were cases of "seeing people eating potatoes also carrying a hoe to dig" and "holding a few lots" with the hope of getting rich, but when the real estate market froze, they had to "hold a debt" with a large amount of money, falling into a dilemma, unable to sell, unable to pay off the debt.

That is the case of individuals and small groups, but for units and businesses with brands investing in land and housing in recent times, although there have been no official statistics, information about "bad debt" in the real estate sector at some banks has also been alarming.

According to a real estate expert in Hue City, the real estate market will be more vibrant in the near future, thanks to the 2024 Land Law and the Law on Real Estate Business and Housing (amended) taking effect from August 1, 2024. The latest point of these laws is to absolutely prohibit the subdivision and sale of land plots in wards of all cities and towns. Urban and residential construction projects are also tightening right from the licensing stage to the implementation process, especially the requirement of public disclosure and transparency in public opinion, detailing the legality, scale, and progress of project implementation...

On the other hand, when real estate project investors do not put the land into use or are behind schedule in using the land compared to the schedule stated in the investment project, the investors are allowed to extend the land use term for no more than 24 months and must pay the State an additional amount of money corresponding to the land use fee and land rent for the extended period. If the extended period expires and the investors still have not put the land into use, the State will reclaim the land without compensation for the land, assets attached to the land and remaining investment costs on the land...

With the above factors, according to the analysis of the above expert, there will certainly be a “screening” for real estate investors; businesses with limited financial resources and unprofessional business investment will be eliminated from the game. And the “land broker” problem will also end because the revised Law on Real Estate Business also prohibits amateur brokers from practicing…

Opportunities for developing services and tourism on agricultural land

Thua Thien Hue province planning for the period 2021-2030, with a vision to 2050, orients the development of agriculture towards high technology, smart, organic, ecological, and medicinal agriculture.

The trend of agricultural modernization is inevitable, especially in a purely agricultural locality like Thua Thien Hue province. However, how and in what direction and roadmap to suit each stage of development is a problem that localities need to consider in order to most effectively exploit land resources, meeting the requirements of building new rural areas (NTM) and advanced NTM.

When the 2024 Land Law comes into effect, there are many new points that can “untie” agricultural land. For example, this Land Law allows the formation of industrial parks specializing in agricultural production. This is truly an opportunity for businesses and investors to invest in implementing projects to build and operate infrastructure for concentrated farming, growing, production, and processing of agricultural, forestry, and aquatic products; to lease or directly produce, similar to current industrial park infrastructure investors.

For a long time, the main purpose of agricultural land was cultivation, but now it is used flexibly for multiple purposes, such as building greenhouses and other types of houses for cultivation and livestock breeding; building motels, huts, camps; building facilities to preserve agricultural products, warehouses; combining production with tourism and trade business...

In the past 4-5 years, in the province, there have been many individuals and businesses taking advantage of the advantages of building advanced rural areas and model rural areas to develop garden ecotourism. These tourism models attract many tourists to visit and relax. However, garden owners when doing tourism still encounter problems with land, because according to the 2013 Land Law, construction on agricultural land is a violation of State regulations. Meanwhile, to develop tourism, it is necessary to invest in building more dining and resting areas, toilets, some miniature landscapes in the garden... Many garden tourism spots have had to temporarily stop or reduce their operations because of this. There are large projects on forest, lake, and waterfall ecotourism that are slow to be implemented because of difficulties in renting and converting forest land, agricultural land... Hopefully, when these barriers are removed, it will create new opportunities to develop services and tourism on agricultural land.

Article and photos: SONG MINH