According to Lao Dong reporters' investigation, immediately after the 2024 Land Law took effect, many individuals and groups of investors have made moves to buy up agricultural land for investment.
Mr. Nguyen Van Minh (living in Quoc Oai district, Hanoi) shared that in recent months, many investors have been hunting for and buying agricultural land in the district. Among them, there is also rice land, making transactions in this segment very bustling.
According to Mr. Minh, some investors are also buying cheap agricultural land in the suburbs of Hanoi to wait for high compensation or housing, according to the new regulations of the 2024 Land Law.
"Previously, the recipients of agricultural land transfers were limited to local people, even farmers from other localities were not allowed to buy, investors often had to ask someone to stand in their name.
However, according to the 2024 Land Law, the subjects receiving the transfer are unlimited. Therefore, this market has recently become more and more exciting" - Mr. Minh explained.
Commenting on this trend, Mr. Pham Duc Toan - General Director of EZ Property Company - said that the real estate market is seeing many investors and groups of investors buying agricultural land to anticipate changes under the 2024 Land Law.
Experts say that one of the changes that most investors pay attention to is the expansion of the limit for receiving agricultural land use rights transfer to no more than 15 times the local land allocation limit.
In addition, the transfer recipients are also expanded, individuals and organizations that are not directly involved in agricultural production can also receive transfers. In particular, if agricultural land is recovered, compensation will be made in cash or housing. This makes many investors want to "hold land" to wait for compensation and enjoy the difference.
Many real estate experts analyzed that in the past, due to many legal and regulatory problems, the transfer of agricultural land was very complicated and the transfer value was not high. However, when the 2024 Land Law came into effect, the problems were almost resolved, so agricultural land began to attract investors' attention again.
However, real estate experts say that if investors buy now, they will face many risks. In particular, if the areas are in the planning, no one will sell but they will wait to receive high compensation.
Sharing the same view, economic expert, Dr. Dinh The Hien also stated that from an investment perspective, buying agricultural land is ineffective. In fact, the situation of abandoned agricultural land is not rare, speculating and buying and selling agricultural land with the expectation of making a profit is very risky.
In addition, if there are agricultural lands that are allowed by the State to be converted into commercial and service land or residential land, they must be within the approved planning of the competent authority. Therefore, collecting and purchasing agricultural land and then waiting for the purpose to be converted and divided into plots for sale is very difficult to do.
