Selling agricultural land because land use fees are too high when converting purposes
Many people who have previously invested in buying agricultural land are now looking for ways to recover capital because the land use fee when converting to residential land is too high but not easy to sell.
Ms. Da Thao (residing in Hoa Hung ward, Ho Chi Minh City) said that she bought a level 4 house with an area of about 75m2 in Hoc Mon district (formerly) in 2005 and has been renting it out since then. By the end of 2024, she decided to apply for a land use right certificate, and the measuring company had painted out the above land area of 208m2. The land price list according to regulations is more than 11 million VND/m2.
When the family learned about the expected finances needed to legalize the house and apply for a certificate, it was known that the land use tax had to be paid for nearly 1.7 billion VND, in addition to the family's financial capacity.
"I was forced to sell the house, but because of the documents and high conversion costs, customers did not care," said Ms. Thao.
According to research, many people are also having to sell cheap real estate because they cannot fulfill their financial obligations when changing the purpose of land use but it is not easy to find buyers. For example, Mr. Doan Quoc Viet (in Tang Nhon Phu ward, Ho Chi Minh City) said that there is a 210 m2 plot of land eligible for a residential transfer.
However, after learning about the procedures for dividing the plot and changing the purpose, Mr. Viet was very "shocked" because he had to pay nearly 6 billion VND for land use fees. It is known that when applying the new land price list, land in this area has increased 10 times, so conversion costs have increased. See more...
Many provisions of the current Land Law are taken advantage of to create virtual prices
The Ministry of Agriculture and Environment believes that the 2024 Land Law has specifically regulated the auction of land use rights and bidding to select investors to implement projects using land.
However, the order of auction procedures and bidding procedures must comply with the law on property auctions and the law on bidding with complex procedures and extended time, reducing flexibility and affecting the ability to attract investment.
According to the provisions of the law on property auctions and land laws, participants must pay a deposit equal to 20% of the total value of the land plot or land plot calculated according to the starting price for auctioning land use rights.
Article 39 of the Law on Property Auction 2016 (amended and supplemented in Clause 24, Article 1 of Law No. 37/2024/QH15) states that "In case of auctioning land use rights in cases of land allocation or land lease to implement investment projects, the minimum deposit is 10% and the maximum is 20% of the starting price"...
According to the provisions of Point c, Clause 1, Article 55 of Decree No. 102/2024/ND-CP, the organization participating in the land use rights auction: "Must pay a deposit equal to 20% of the total value of the land plot or land area calculated according to the starting price for the land use rights auction".
The above regulations have been taken advantage of by a number of organizations and individuals for profit and negativity. Typical examples include acts of creating virtual prices, "inflating prices", pushing up land prices, causing a huge gap between starting prices and winning auction prices to transfer real estate in neighboring areas that have been collected before or increasing the value of mortgaged real estate to repay debts; or abandoning deposits after winning the auction, even colluding, submerging land prices in the auction to create bad public opinion, affecting the healthy development of the real estate market. See more...
The authority decides to increase or decrease land prices according to reality from August 15, 2025
Can Tho needs more than 900 social housing apartments to achieve the 2025 target
Can Tho City needs more than 900 social housing apartments to achieve the target of 1,397 apartments in 2025.
According to the People's Committee of Can Tho City, implementing the Project "Investing in the construction of trade union institutions in industrial parks and export processing zones" approved by the Prime Minister in Decision No. 655 dated May 12, 2017 and Decision No. 1729 dated November 4, 2020, the three localities of Can Tho, Soc Trang, and the old Hau Giang have mobilized all resources to implement, seriously and effectively implement the assigned social housing targets.
As a result, in the period of 2021 - 2024, the total number of completed apartments in the 3 localities reached 2,252 units. See more...
