The Government issued a new land price framework: Highest 162 million/m2

The maximum price in the land price frame in Hanoi and Ho Chi Minh City is the same.

According to Decree 96/2019, the land price framework for agricultural land groups includes the price framework for land for growing annual crops (including rice land and land for growing other annual crops); the price framework for land for growing perennial crops; the price framework for production forest land; the price framework for aquaculture land and the price framework for salt-making land.

For non-agricultural land groups, the Decree stipulates the price framework for residential land in rural areas; price framework for commercial and service land in rural areas; price framework for non-agricultural production and business land that is not commercial and service land in rural areas; price framework for residential land in urban areas; price framework for commercial and service land in urban areas; price framework for non-agricultural production and business land that is not commercial and service land in urban areas.

The Decree also stipulates 7 economic regions for the development of land price frameworks. Specifically, the Northern midland and mountainous region includes the following provinces: Dien Bien, Lai Chau, Son La, Hoa Binh, Ha Giang, Tuyen Quang, Cao Bang, Bac Kan, Lao Cai, Yen Bai, Phu Tho, Lang Son, Thai Nguyen, Bac Giang and Quang Ninh. For this economic region, the land price framework stipulates that the minimum land price in urban areas of type 1 to type 5 is 50,000 VND/m2.², maximum is 65 million VND/m².

The Red River Delta includes the provinces and centrally-run cities: Vinh Phuc, Bac Ninh, Hanoi, Hai Phong, Hai Duong, Hung Yen, Ha Nam, Nam Dinh, Thai Binh and Ninh Binh. Land prices in this area are regulated for special urban areas, urban areas from type 1 to type 5 with a minimum of 120,000 VND/m2.², maximum is 162 million VND/m².

The North Central region includes the provinces of Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri and Thua Thien Hue with a minimum land price frame for urban areas from type 1 to type 5 of 40,000 VND/m2.², maximum is 65 million VND/m².

The South Central Coast region includes the provinces and centrally-run cities: Da Nang, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan and Binh Thuan, with urban areas from type 1 to type 5, the minimum urban residential land price is 50,000 VND/m2.², maximum is 76 million VND/m².

The Central Highlands region includes the provinces of Kon Tum, Gia Lai, Dak Nong, Dak Lak and Lam Dong with a land price frame for urban areas from type 1 to type 5 of at least 50,000 VND/m2.², maximum is 48 million VND/m².

The Southeast region includes the provinces and cities directly under the Central Government: Dong Nai, Binh Duong, Binh Phuoc, Ba Ria - Vung Tau, Tay Ninh and Ho Chi Minh City. The price of residential land in urban areas in this region with urban areas: special, from type 1 to type 5, is at least 120 thousand VND/m2², maximum 162 million VND/m².

The Mekong Delta region includes the provinces and centrally-run cities: Long An, Tien Giang, Ben Tre, Dong Thap, Vinh Long, Tra Vinh, Can Tho, Hau Giang, Soc Trang, An Giang, Kien Giang, Bac Lieu and Ca Mau. The land price framework in urban areas in this region is based on urban types from 1 to 5, with a minimum price of 50,000 VND/m2.², maximum 65 million VND/m².

The above land price framework is used as a basis for the People's Committees of provinces and centrally run cities to develop and adjust local land price lists.

The Decree also requires the Provincial People's Committee to base on local realities to prescribe the maximum price in the land price list, the adjusted land price list is not more than 20% higher than the maximum price of the same type of land in the land price frame.