VietNamNet Bridge – More than 97,000 households and individuals in HCMC will be affected by the new land prices proposed by the HCMC Department of Natural Resources and Environment if they are approved.

According to the department, over 97,000 households and individuals in HCMC have not completed procedures for land certification and they will have to pay higher land use fees next year if the proposed land prices are applied.

Under the proposed land prices presented to the city government, the minimum land price in 19 districts of the city will be VND1.5 million per square meter while the highest price will be VND162 million per square meter on main streets in District 1, including Nguyen Hue, Dong Khoi and Le Loi.

Meanwhile, recent surveys found that the highest market price of land in HCMC is VND590 million per square meter on Dong Khoi and Nguyen Hue streets.

Therefore, the highest proposed price will be less than 30% of the market price. The average new land price in HCMC will be equivalent to 25-30% of the market prices and around 20% higher than the existing land price applied by the city government.

With the proposed new land prices, taxes on real estate transfers and registration fees will increase while the tax on non-farm land will change until the end of 2016.

The maximum land prices of Hanoi and Can Tho are VND162 million and VND65 million per square meter respectively, equivalent to 70-80% of the market price, while the highest price in Danang is VND34 million per square meter, or 40-50% of the market level.

SGT/VNN