From January 1, 2026, the land price list according to the 2024 Land Law will be applied. Many localities have been building new land price lists with high increases.
In particular, the Hanoi Department of Agriculture and Environment is soliciting opinions on the draft submission on the development of the first land price list to be announced and applied from January 1, 2026.
Notably, this department proposed the highest land price in Hanoi for residential land on the roads of the old Hoan Kiem district at more than 702 million VND per square meter. The highest increase proposal is for suburban areas, with an increase of 16% to 26%.
Commenting on this issue, economic expert Nguyen Quang Huy - CEO of the Faculty of Finance - Banking (Nguyen Trai University) said that many localities are building a new land price list, with the expected adjustment level many times higher than before, reflecting the market's efforts to approach actual prices.
However, besides the opportunity, price list innovation poses a big challenge. socialized, people in suburban areas and areas with land use conversion will be directly affected when financial obligations increase. Without an appropriate support mechanism, it is easy to develop anxiety and concern.
"Therefore, the management of land price policies needs to be both reasonable and reasonable; both ensuring market principles and maintaining social stability," Mr. Huy emphasized.
Lawyer Truong Anh Tu (TAT Law Firm) said: According to the 2024 Land Law, from January 1, 2026, the provincial People's Committee will issue a new land price list based on actual value, instead of depending on the minimum and maximum price framework as stipulated in the 2013 Land Law. The land price framework - which was the basis for building the previous price list - will be abolished.
Clause 1, Article 257 stipulates that the current land price list will continue to be applied until December 31, 2025. After this time frame, the People's Committee at the provincial level is responsible for developing and submitting to the People's Council at the same level for approval a new land price list for promulgation and application from January 1, 2026.
Notably, the new land price list will be built in detail for each area and location. For areas with digital cadastral maps and land price databases, prices will be determined for each plot of land based on the value area and standard plot of land (Clause 2, Article 159).
Determining the land price list using the new method helps land prices approach the market, making it more transparent in calculating financial obligations. However, this also means that the cost of making a first red book - which is calculated according to the land price list - can increase sharply.
Financial items directly affected include: land use fees, land rent and registration fees. Of which, land use fees often account for the highest proportion.
Lawyer Truong Anh Tu said: The delay in making red books may cause people to pay higher land prices when the new price list takes effect, significantly increasing financial obligations.
Lawyer Nguyen Van Dinh - real estate legal expert said that the increase in land price list will indirectly push up specific land prices, because specific land prices are calculated according to comparison methods, income and surplus cannot be lower than the price according to the land price list, leading to the land price list becoming "land price".
However, Lawyer Nguyen Van Dinh said that, in another aspect, the land price list may increase costs related to people's land use.
For example, cases of paying land use fees when the State recognizes land use rights (issuing a first book), allowing the change of land use purpose of households and individuals; paying annual land rent; calculating land use tax; registration fees and especially income tax from transferring land use rights... are all based on the land price list.
According to the lawyer, if the land price list increases twice, the land use fee, tax, fee, fee... that people have to pay will be double the amount, while this is a group of entities with a large number. The land price list will certainly cause a wide-range, inclusive impact.
For simple example, non-agricultural land use tax is still considered a "smooth" collection because the tax rate is only 0.03% of the land price in the land price list. But now if the land price list is adjusted up 5 times, this fee will become a burden for many people.
