New land price framework issued
New land price framework issued
A recently issued decree on land price framework has regulated the maximum price of VND 162 million (US$ 7,800) per square metre in urban areas in the Red River Delta and the South Eastern Region.
The new decree categorizes land as agricultural land and non-agricultural land.
The minimal rate for fifth-tier urban land in the Central Coast Region will be VND 40,000 per square meter.
Commercial and service land in urban areas in the Red River Delta and the South Eastern Region will be set between VND 120,000 to VND 129.6 million per square meter.
Meanwhile, the lowest rural land price will be VND15,000 per square meter for mountainous communes in the Central Highlands Region, and the highest will be VND 29 million per square meter for communes in the Red River Region.
The Decree shall come into force on December 29, 2014.
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