Ho Chi Minh City’s Adjusted Land Price Table Officially Effective from October 31st

The adjusted land price table of Ho Chi Minh City officially comes into effect on October 31st, with the highest price reaching 687 million VND per square meter, concentrated on three central city streets. This is the highest land price ever recorded, marking a significant adjustment aimed at aligning more closely with the city's economic development and urbanization pace. The issuance of the new price table aims to ensure a reasonable adjustment in land values, not only accurately reflecting market dynamics but also promoting sustainable development, attracting investment, and improving the quality of life for city residents.

The adjusted price table stipulates that the lowest price is 2.3 million VND per square meter, located in Cần Giờ district. The large disparity in land prices between central areas and suburban areas like Cần Giờ reflects fundamental differences in development potential and infrastructure development levels in each region. Central areas such as District 1 and District 3, with outstanding advancements in transportation systems, social infrastructure, and amenities, naturally command higher land prices. Meanwhile, Cần Giờ, a suburban district still in the early stages of infrastructure investment and upgrading, has significantly lower land prices, highlighting the importance of continued investment in these areas to fully exploit their development potential.

The announcement of the adjusted land price table was made by the People's Committee of Ho Chi Minh City after nearly three months of gathering opinions from government agencies, organizations, experts, and the community. Although 80 days behind the original schedule, the consultation process ensured the transparency and effectiveness of the policy, as well as fairness in the land pricing framework. The issuance of the land price table is also three months later than the effective date of the 2024 Land Law (effective from August 1st). Therefore, this price table will only be valid until the end of 2025. This timeframe allows the city to continue monitoring and evaluating market changes to make subsequent adjustments in line with urban development needs.

The new land price table will serve as a legal basis for calculating compensation prices when the State acquires land, compensating for properties attached to the land, as well as determining related taxes and fees. Establishing a new land price table not only protects the rights of landowners whose land is acquired but also helps generate sustainable revenue for the city's budget. These funds can be used for infrastructure investments, enhancing public service quality, and promoting comprehensive economic and social development.

Adjusting the land price table is an important step in Ho Chi Minh City's economic development and urbanization process, helping to create more favorable conditions for the planning and investment in strategic infrastructure projects. For investors, the updated land price table provides a clearer understanding of real estate investment costs, allowing them to build business strategies accurately and effectively. Additionally, the adjustment of land prices helps ensure fairness among the city's districts, improving residents' quality of life through investments in synchronized infrastructure, enhancing transportation networks, and creating modern public spaces. These factors are essential in helping Ho Chi Minh City maintain and strengthen its position as a leading economic, financial, and cultural center in Vietnam.

Moreover, fluctuations in land prices significantly impact the real estate market as a whole, where reasonable adjustments help curb speculative activities and prevent unsustainable property price increases. Through the adjusted land price table, the city government also aims to promote more efficient land use, creating conditions for a healthy and sustainable real estate market. This is particularly important as Ho Chi Minh City is moving toward a smart urban development strategy, applying modern technology and ensuring a balance between economic development and environmental protection.

Overall, Ho Chi Minh City's adjusted land price table is not just an administrative tool but also a means of guiding socio-economic development, encouraging the participation of various economic sectors in building and developing the city. A reasonable land price policy will provide a solid foundation for investment decisions while protecting the legitimate rights of citizens, thereby promoting the harmonious, civilized, and modern development of the city.