Ho Chi Minh City has not yet developed a new land price list in accordance with the Land Law.

"We haven't 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 an adjustment of the old price, updating current land transaction prices, approved compensation prices, and some market transfer prices to ensure accuracy and completeness in the price list, guaranteeing that the price list is not too low to avoid losses...", the leader of the Ho Chi Minh City Department of Natural Resources and Environment emphasized.

Mr. Thang also gave an example: there are roads where the old price list only showed 1-2 million VND/m2 for residential land, but the transaction prices were already 100-200 million VND. Therefore, it is necessary to update and adjust the land price list to be the most appropriate for this period.

Previously, the Ho Chi Minh City Real Estate Association (HoREA) also sent a document to the Ho Chi Minh City People's Committee "Requesting the Ho Chi Minh City People's Committee to consider not issuing the land price list applicable from August 1, 2024, but instead focusing on building the 'Initial Land Price List' applicable from January 1, 2026, as stipulated in the 2024 Land Law."

According to HoREA, Clause 1, Article 257 of the 2024 Land Law stipulates that "Land price tables issued by provincial People's Committees in accordance with the provisions of the Land Law No. 45/2013/QH13 shall continue to be applied until December 31, 2025. In necessary cases, provincial People's Committees shall decide to adjust the land price tables in accordance with the provisions of this Law to suit the actual land price situation in the locality." However, HoREA believes that the recent issuance of the new draft land price table does not fall under the necessary cases as stipulated in Clause 1, Article 257 of the 2024 Land Law.

In this draft, land prices in many districts could increase by an average of 5-10 times. Some suburban and outlying areas are even projected to see adjustments of 15-50 times compared to current prices. This increase will impact land compensation costs, as landowners are likely to demand higher compensation than before.

When input costs are pushed higher, it will have a "chain reaction, increasing the purchase and rental prices of houses and factory space in industrial zones...". HoREA argues that this is an adverse impact on social housing projects implemented by businesses through land use rights transfers, as well as increasing the price of goods in general.

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

The number of land registration applications in Ho Chi Minh City continues to increase sharply, reaching 300,000 by the end of July. In July alone, the entire city received nearly 40,000 land registration applications, an increase of 10,000 compared to the same period last year. The majority of these applications were related to buying, selling, and mortgaging land.

Due to the increase in land and property registrations, Ho Chi Minh City's land-related revenue reached over 12,000 billion VND in the past 7 months, an increase of 3,600 billion VND compared to the same period last year.