The Land Law 2024 has removed regulations on land price brackets, while emphasizing that land pricing must follow market principles.
When removing the land price bracket, localities will decide on the land price list themselves and adjust the land price list once a year (if there is any change) to match the market land price instead of basing it on the minimum land price - The maximum land price bracket issued by the Government today.
However, the current land price list will continue to be used until December 31, 2025, and from January 1, 2026, provinces and cities across the country will announce and apply the new land price list. This means that the new compensation land price may increase from January 1, 2026.
The Land Law 2024 emphasizes that the determination of land prices must ensure market principles.
Removing the land price bracket according to the Land Law 2024 will help the new land price list approach the market land price and the land compensation price will be calculated according to the specific land price (including the land price adjustment coefficient method implemented). according to the land price list), leading to land compensation prices that may increase compared to today.
According to experts, the 2024 Land Law will impact and influence almost every aspect of social life, both people, businesses, organizations and the state will benefit.
Talking to Labor, lawyer Nguyen Huy An (Hanoi Bar Association) said that with the regulation on land price lists once a year according to market prices, the state and people will both benefit from implementation. compensation, as well as activities related to land prices at the time of compensation.
With this way of calculating compensation prices, people's rights when land is recovered will increase. When the state organizes land allocation to businesses, leases, or pays land, the exact price will be obtained.
When there is a true land price list, the state can measure the difference in land rent of land whether it is due to the state changing planning, building infrastructure or investing by people and businesses.
Since then, the state has appropriate policies to collect taxes and regulate land rent for all people. At the same time, this new regulation contributes to more transparency in the real estate market.
Also according to Lawyer Nguyen Huy An, the Land Law 2024 brings significant changes in principles for determining land prices, focusing on land valuation according to market principles. At that time, the land will be allocated to the investor willing to pay the highest price, bringing better benefits to those whose land is recovered.
