The Ho Chi Minh City People's Committee has just approved a project to develop a land price adjustment coefficient, effective from July 1, 2026, in order to closely monitor and increase market transparency.
According to a recently approved proposal from the Ho Chi Minh City Department of Natural Resources and Environment, land plots with street frontage on Nguyen Hue, Le Loi, and Dong Khoi streets have the highest prices, reaching up to 687,2 million VND/m2.
If everything goes according to plan, before October 15th, the Ho Chi Minh City People's Committee will issue a decision amending and supplementing Decision No. 02/2020/QD-UBND on the adjusted land price list.
Until a decision to amend and supplement the land price list under the 2024 Land Law is issued, Ho Chi Minh City will continue to use the old land price list for tax calculation.
According to the Ho Chi Minh City Department of Natural Resources and Environment, the land price adjustment roadmap consists of three stages, as stipulated in the 2024 Land Law.
The Propaganda Department of the Ho Chi Minh City Party Committee conducted a survey of residents living and working in the city regarding the draft revised land price list from August 19-23.
According to expert Phan Cong Chanh, the adjusted land price list helps to purify the real estate market and identify investors with strong potential.
According to the Chairman of the People's Committee of Ho Chi Minh City, when the new land price list is applied, the land clearance costs for the Rach Xuyen Tam and Bo Bac Kenh Doi projects will amount to more than 10.000 billion VND.
According to the Director of the Department of Natural Resources and Environment of Ho Chi Minh City, this price list is an adjusted price list, not a new price list in accordance with the 2024 Land Law.
At its 8th session, the Ho Chi Minh City People's Council, 1,0th term, passed a resolution to increase the land price adjustment coefficient for 2023 in the city by 1.0 times compared to the coefficient in 2022.
The Ho Chi Minh City People's Committee has submitted to the City People's Council a draft proposal to increase the land price adjustment coefficient for 2023 by 1.0 compared to the 2022 coefficient, in order to gradually approach market prices.
Ho Chi Minh City has agreed to maintain the land price adjustment coefficient for 2022 the same as in 2021 due to concerns about causing difficulties for businesses and users affected by COVID-19.
The Ho Chi Minh City People's Council, 9th term, 2016-2021, unanimously agreed to maintain the land price adjustment coefficient for 2021 as stipulated in Decision 03/2020 of the Ho Chi Minh City People's Committee.
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