Mr. Nguyen Van Tuan (real estate broker in Phu Cat, Quoc Oai, Hanoi City) said that since 2021, there have been quite a few people from the city center and even other provinces looking to Quoc Oai. To buy farmland, depending on the location, buyers have different ways of buying and selling.
The purpose of purchasing by individuals is often to wait for compensation from the State in order to enjoy the difference between the "cheap" purchase price and the State price, or to request conversion and then subdivide and sell the land.
Referring to this content, Mr. Pham Duc Toan - CEO of EZ Property Company - commented that in the real estate market, individuals, groups and organizations are appearing to buy agricultural land to anticipate new changes. according to the Land Law 2024.
The Land Law 2024 has improved mechanisms and policies on agricultural land management and use in the direction of expanding the limit for receiving transfer of agricultural land use rights to no more than 15 times the local land allocation limit.
In addition, the new Law also expands the subjects eligible to transfer rice land use rights to economic organizations and individuals who do not directly engage in agricultural production.
The law also adds regulations that agricultural land users are allowed to change the structure of crops and livestock, and are allowed to use an area of land to build works that directly serve agricultural production.
Along with that, agricultural land users are allowed to combine it with trade, services, livestock farming, growing medicinal plants... but cannot change the land type determined according to the provisions of the Land Law.
"Since the Land Law was amended and took effect from August 1, 2024, the problems were almost resolved, and agricultural land began to be sought after again.
Many businesses have moved to buy this type of land in localities to build farms, high-tech agricultural models or industrial models, or there are investors who buy agricultural land to wait for land clearance. Equally, compensation at high prices is very common" - Mr. Toan said.
Talking to Lao Dong Newspaper, Mr. Nguyen The Diep - Vice Chairman of Hanoi Real Estate Club - said that the Land Law 2024 has created a breakthrough legal corridor for agricultural land, creating favorable conditions for people. People buy for business or open large plots for high-tech agricultural cultivation.
However, some people buy for speculation and wait for opportunities, causing agricultural land prices to increase and people to benefit. But if it is not for the right purpose, it will be wasteful and pose a high risk because from planning to implementation is a long process and the project planning may be suspended for many years, investors will certainly be affected. "bury" capital.
Besides, converting agricultural land to other uses is very difficult, even impossible...
