According to Lao Dong reporters, the 2024 Land Law has removed the regulation on land price framework and land will be priced according to market principles. When the land price framework is removed, each locality will decide on the land price list and adjust the price list once a year to match the market land price.
According to regulations issued by the Government, each locality will decide on the land price list, adjust the price list every 5 years and base on the minimum - maximum land price.
From January 1, 2026, provinces and centrally-run cities will apply a new land price list. The new land price list is regulated to be close to market land prices. Meanwhile, compensation prices are calculated according to specific land prices, leading to an increase in land compensation prices compared to present, including agricultural land.
In addition, according to the 2024 Land Law, when people are compensated for agricultural land, they will also receive some additional expenses such as costs for supporting the relocation of livestock, costs for supporting the dismantling and relocation of assets attached to the land, etc.
People will also enjoy more benefits in terms of compensation and resettlement when their land is recovered according to the 2024 Land Law.
Households and individuals currently using agricultural land that meet the conditions for compensation according to the law when the State reclaims land shall be compensated with agricultural land, money or land with a different purpose than the type of reclaimed land or with housing.
For households and individuals using agricultural land when the State reclaims land, the compensation limit for agricultural land is prescribed as follows:
The area of agricultural land to be compensated includes the area within the limits prescribed in Articles 176 and 177 of the 2024 Land Law and the area of land received through inheritance.
For agricultural land area due to land use rights transfer exceeding the limit before July 1, 2014, compensation and support will be implemented according to Government regulations.
For agricultural land used before July 1, 2004, where the land users are households or individuals directly engaged in agricultural production but do not meet the conditions to be granted a Certificate of land use rights and ownership of assets attached to the land according to the provisions of the 2024 Land Law, compensation shall be made according to Government regulations.
In addition, regarding resettlement arrangements, according to the provisions of Clause 6, Article 111, Land Law 2024, people whose agricultural land or non-agricultural land other than residential land is recovered, if they meet the conditions for compensation and need compensation in the form of residential land or housing and the locality has conditions for residential land and housing funds, will be compensated by allocation of residential land or resettlement housing.
Thus, households and individuals whose agricultural land is recovered can be compensated with residential land or housing if there is a need and local land funds allow.
