On August 2, speaking with Nguoi Dua Tin , Mr. Dang Quoc Toan, Chief of Office of the Ho Chi Minh City People's Committee, said that after the meeting on the evening of August 1, the Party Committee of the Ho Chi Minh City People's Committee decided not to apply the new land price list as announced by the Department of Natural Resources and Environment.
Specifically, the Ho Chi Minh City People's Committee will study and adjust the current land price list according to the provisions of the Land Law, effective from August 1. Ho Chi Minh City is also urgently studying the land price list to apply from January 1, 2026.
Real estate records increased, so land-related revenue of Ho Chi Minh City reached more than 12,000 billion in the past 7 months.
On the same day, the Ho Chi Minh City Real Estate Association issued a dispatch welcoming the decision of the Ho Chi Minh City People's Committee not to issue and apply the new land price list from August 1, but to focus on developing the first land price list and applying it from January 1, 2026.
According to HoREA, the prices of the draft land price list are commonly 10-20 times higher than the current land price list, but are generally still lower than market prices.
For example, the land price of the three streets Dong Khoi, Le Loi, Nguyen Hue in District 1 is 810 million VND/m2, but in this area there are almost no buying and selling transactions, and the real estate here is mainly used for renting and storing assets.
Besides, the price of the draft will have a huge impact on many individuals and households when applying for a pink book because they have to pay land use fees according to the land price list which is higher than before.
Although the 2024 Land Law stipulates that land users are allowed to owe financial obligations, during the period of land use fee debt, land users are restricted in many rights such as not being allowed to mortgage, not being allowed to buy and sell until the "land use fee debt" is paid off.
In further discussion with Nguoi Dua Tin , Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, assessed that the price of the draft will have an impact on input costs of many sectors of the economy , first of all, the cost of compensation for site clearance will be pushed higher.
"This will have a chain reaction that increases housing prices, house rents, land rents, factory rents in industrial parks and in investment projects for trade, services, and tourism, which may lead to an increase in the price of goods in general," said Mr. Chau.
In general, the Ho Chi Minh City Real Estate Association believes that issuing a new draft land price list is not really necessary at the present time.
Because Ho Chi Minh City has full regulations on land price lists and land price adjustment coefficients, the land price list issued by the Ho Chi Minh City People's Committee according to the provisions of the 2013 Land Law can completely continue to be applied until December 31, 2025 according to the provisions of the 2024 Land Law.
At the regular meeting on socio-economic issues in July 2024 on the afternoon of August 1, Mr. Vo Van Hoan, Vice Chairman of the Ho Chi Minh City People's Committee, said: "People and public opinion are very interested in the new land price list. This information will affect many subjects, so it needs to be discussed and carefully considered."
Reporting at the meeting, Mr. Nguyen Toan Thang, Director of the Department of Natural Resources and Environment 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.
The Director of the Department of Natural Resources and Environment of Ho Chi Minh City added that the current adjusted price list is an adjustment to the old price list, updating the current land transaction price. Accordingly, the compensation price has been approved, the specific price of the market to ensure no loss in the context of the old price list being too low.
According to Mr. Nguyen Toan Thang, in July 2024, the number of land records in Ho Chi Minh City continued to increase. Specifically, the whole area received nearly 40,000 land records in July, the majority of which were still sale and mortgage records. "Due to the increase in real estate records, the City's land-related revenue was more than 12,000 billion in the past 7 months. This shows that people have high demand for real estate transactions and real estate mortgages," Mr. Thang said.
Source: https://www.nguoiduatin.vn/vi-sao-tphcm-chua-ap-dung-bang-gia-dat-moi-tu-ngay-1-8-204240802175147952.htm
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