Doubling the price bracket of urban land in Hanoi and Ho Chi Minh City? Does the rental price increase?

Ministry of Natural Resources and Environment recently held conference of local consultation on the draft land price bracket. According to this draft, the urban land price frame doubling today.

Accordingly, the highest price for land in urban areas is 162 million / m2, twice the highest land price stipulated in the present time. Because under the current regulations, the highest land prices in the big cities of Hanoi and Ho Chi Minh City is 67.5 million / m2. With rural land, the highest price is 29 million / m2, according to current regulations only 1.8 million / m2. For agricultural soils, the highest price rise not much land, increased in approximately two times. Thus, housing prices and rental rates will increase as well as apartments for rent in Hanoi increases in both urban and suburban areas. Apartments for rent in Hoan Kiem district was high time to rise higher, apartments for rent in Thanh Xuan District, Ha Dong district and also inched higher price definitely holding out
Under the draft decree, for the case of the province, city areas with soils of remote and island areas facing socio-economic difficulties; with residential land, production, sales in the ward or township where the common land prices lower than the market price of the minimum land price frame of the same type, the provincial city provided land valuation is lower than 20 % minimum price the same soil type.

Reportedly, the draft land price framework of Natural Resources and Environment Ministry will be submitted to the Government in September next.

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