New land prices rise sharply
The Ho Chi Minh City People's Council has approved a draft resolution to issue the first land price list, applicable from January 1, 2026. In which area 2 - North of Ho Chi Minh City (formerly Binh Duong province), the highest residential land price is 89.6 million VND/m2, applied on roads such as Doctor Yersin, Bach Dang. The lowest price is 1.3 million VND/m2 on roads such as Minh Tan - Long Hoa road, DH 722 road;
Regarding commercial and service land, area 2 also has the highest price of 53.8 million VND/m2; regarding production and business land, the highest price in area 2 is 44.8 million VND/m2.
For agricultural land, area 2 has the highest price of perennial crop land of 500,000 VND/m2; the highest annual crop land of 400,000 VND/m2.
Compared to the land price list of old Binh Duong, the new land price increased many times higher. For example, the residential land price on Doctor Yersin street was previously the highest at 52.1 million VND/m2, now it has increased to 89.6 million VND/m2, an increase of 1.7 times. Notably, in many places, land prices have increased more than 8 times, for example on DH 505 street, the current land price is 780,000 VND/m2, the new land price is 6.3 million VND/m2.
Workers worry that the opportunity to buy land is more difficult
According to assessments, macroeconomically, the promulgation and application of the new land price list creates an important legal foundation for land management, improving transparency, fairness and efficiency, contributing to stabilizing the real estate market and promoting socio-economic development of Ho Chi Minh City in the new period.
However, when land prices increase, it will also affect vulnerable groups who do not have land and housing in Ho Chi Minh City. Notably, the group of migrant workers are still renting houses. When land prices increase, the opportunity to buy land to build houses becomes even more difficult.
According to a leader of a real estate company, if the State increases land prices to calculate land use fees, real estate investors must also increase selling prices. At that time, the most affected people are buyers, people who do not have housing.
Meanwhile, Ms. Le Thi Ly (37 years old, a migrant worker) shared that she is currently looking to buy land to build a house. Through research, the current land price in the Thu Dau Mot area, former Binh Duong province, on average ranges from 18-25 million VND/m2. However, currently, land plots in the Thu Dau Mot area are scarce.
I searched in further areas in Tay Nam, Phu Giao, Ben Cat wards, and land prices here are also increasing, following large projects. The average residential land price is from 10-15 million VND/m2. This price level is also quite high for workers" - Ms. Ly shared.
Mr. Tran Trong Loi (47 years old, from Ha Tinh) has been working and living in Ho Chi Minh City for more than 13 years and still cannot afford to buy a house. "We also want to have a house to settle down and start a business, but the house price is too high, we cannot afford to buy it. If land prices continue to increase, the opportunity to buy land for us has closed. We only hope that social housing projects will be built more, to create opportunities for migrant workers to stabilize their lives" - Mr. Loi expressed.
