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.
The Ho Chi Minh City People's Committee has submitted a land price list to be applied from January 1, 2026, proposing the highest land price in the central area at 687,2 million VND/m², nearly 300 times higher than the lowest price in the suburbs.
The actual prices on the most expensive streets in Ho Chi Minh City are tens to hundreds of millions of VND/m² higher than the prices in the draft land price list expected to be applied in 2026.
The land price list expected to be announced in Ho Chi Minh City in 2026 will remain almost unchanged from the 2025 list; the three streets Nguyen Hue, Le Loi, and Dong Khoi will maintain a price of 687 million VND/m².
The Ho Chi Minh City Department of Agriculture and Environment believes that the land price lists recently developed by Ho Chi Minh City, Binh Duong, and the former Ba Ria - Vung Tau provinces are in line with reality.
That was the assessment of the Vice Chairman of the Ho Chi Minh City People's Committee, Bui Xuan Cuong, regarding Decision No. 79/2024 regulating land price tables in Ho Chi Minh City, which was recently issued.
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.
Chairman of the Ho Chi Minh City People's Committee Phan Van Mai serves as Chairman of the Ho Chi Minh City Land Price Appraisal Council.
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.
Land costs account for approximately 40% of the cost of housing products. As land use costs increase, everything else rises, leading to higher prices for real estate products.
This was confirmed by Mr. Nguyen Toan Thang, Director of the Department of Natural Resources and Environment of Ho Chi Minh City, regarding the adjustment of land price tables in Ho Chi Minh City from August 1st.
According to the Director of the Department of Natural Resources and Environment of Ho Chi Minh City, although they would very much like to have more time to adjust the land price list, the law stipulates that waiting is not an option.
Many residents believe that the adjustment of land prices in Ho Chi Minh City is reasonable, but a specific roadmap is needed to allow people to adapt.
Dong Khoi, Le Loi, and Nguyen Hue streets in District 1 have the highest land prices in Ho Chi Minh City, reaching up to 810 million VND/m2 according to the price list expected to be applied on August 1st, when the Land Law comes into effect.
Land prices in Ho Chi Minh City vary depending on the district, with adjustment factors ranging from 3 to 25 times the government-determined price. The areas with the highest adjustment factors, up to 25 times, are Hoc Mon District and Thu Duc City.
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 Real Estate Association (HoREA) has recently submitted a document providing feedback on the land price framework for the period 2019-2024 to address the unreasonable aspects of the current land price framework.
Land prices on Dong Khoi, Le Loi, and Nguyen Hue streets have hit a ceiling of 210 million VND per square meter, which is one billion VND lower than the actual market value.
This is a proposal from the Ho Chi Minh City People's Committee to the National Assembly and the Government in the Project for the Development of the Ho Chi Minh City Real Estate Market for the period 2016-2020, with orientation to 2025 and vision to 2030.
The most expensive streets in the heart of Ho Chi Minh City have market prices of around 1 billion VND/m2.
According to a report by CBRE, house and land prices in Ho Chi Minh City are rising sharply across many segments.
Land and apartment prices are currently trending upwards due to a number of contributing factors.
Land prices in the suburban districts of Ho Chi Minh City have fluctuated sharply recently, with prices being pushed up abnormally high, threatening the sustainable development of the city's real estate market.
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