According to the assessment of the Department of Natural Resources and Environment of Ho Chi Minh City, if the land price list according to Decision 02/2020 is about 30% of the market price in Ho Chi Minh City, the newly adjusted land price list will be about 50%.
According to the land price list just issued by Ho Chi Minh City, the highest residential land price is 687 million VND/m2 on the streets in the city center such as Nguyen Hue, Dong Khoi, Le Loi. Thus, compared to the old land price, the new price has increased by 120 million VND/m2 (about 21%). This price has been adjusted down compared to the previous draft price list (810 million VND/m2).
Notably, the price of commercial and service land has been adjusted down sharply. For example, the newly adjusted price of commercial and service land on Dong Khoi Street has a rental price of approximately 550 million VND/m2 multiplied by a percentage of 0.25% to 3% (still waiting for the decision of the City People's Committee), while compared to the price list according to Decision 02/2020, the price is more than 9 million VND.
Similarly, land prices for production and business (including land for industrial parks, industrial clusters, minerals; land for non-agricultural production facilities); land for national defense and security; public land; land for building agency headquarters, land for public works; other non-agricultural land... are also adjusted down.
Agricultural land prices are adjusted by multiplying (x) the agricultural land price according to Decision 02/2020 by a coefficient of 2.5 - 2.7. From there, agricultural land prices only increase slightly compared to the old price.
The HCM City Land Price Appraisal Council said that in previous submissions, the Department of Natural Resources and Environment used agricultural land price data to calculate compensation in the city to propose agricultural land prices that did not fully reflect the price of pure agricultural land for cultivation and production activities.
The Department of Natural Resources and Environment has developed a land price list for agricultural land based on the agricultural land price stipulated in Decision 02/2020 multiplied by the land price adjustment coefficient (coefficient K) according to Decision 56/2023 to ensure stability for agricultural production activities. This also does not affect the case of land recovery by the State because at that time, the person whose land is recovered will have the specific land price determined according to the market price to calculate compensation.
For residential land, the City Land Price Appraisal Council assessed that the Department of Natural Resources and Environment collected land price information from the price database and market transfer land prices and based on the actual socio-economic situation of the city to propose a land price list for residential land suitable for each district and Thu Duc City. At the same time, it has reviewed and balanced prices for locations bordering districts, Thu Duc City and road sections and routes in the same area.
