Land should be valued close to market prices: officials
Land valuation has been considered a major bottleneck in Vietnam’s socio-economic development, Deputy Prime Minister Tran Hong Ha said while chairing a meeting on August 7 discussing amendments and supplements to a government decree on land valuation.
In a report by the Ministry of Natural Resources and Environment (MoNRE), there are currently five different methods to evaluate land prices used by Government agencies: direct comparison, deduction, income, surplus, and land price adjustment coefficient methods. The aim of said methods has been to bring prices closer to market level, minimising losses to the State budget, and ensuring the rights of landowners whose land is being acquired. However, in the last decade, there have been concerns voiced over their shortcomings and limitations.
