Hanoi Officially Approves New Land Price List, Agricultural Land Peaks at 290,000 VND/m²

During the 28th session held on the afternoon of November 26, the Hanoi People’s Council adopted a Resolution establishing the Land Price List for the first time, effective from January 1, 2026, across the city.

According to the Resolution, the Land Price List is divided into 17 zones instead of the previous district and ward classifications. The list categorizes land into three types: non-agricultural land, agricultural land, and unused land.

Non-agricultural land is further classified into four positions based on specific criteria: Position 1 applies to plots with at least one side adjacent to a street or alley; Position 2 applies to plots with at least one side adjacent to an alley, lane, or pathway of 3.5 meters or wider; Position 3 applies to plots with at least one side adjacent to an alley with a width between 2 meters and 3.5 meters; Position 4 applies to plots with at least one side adjacent to an alley narrower than 2 meters.

Under the new Land Price List, non-agricultural land prices have increased by 2-26% compared to current rates. Urban areas saw an average increase of 2%, while suburban and rapidly developing areas experienced increases ranging from 15% to 26%. Agricultural land prices peaked at 290,000 VND/m², remaining unchanged from current levels.

Presenting the Review Report, Mr. Trần Khánh Hưng, Deputy Head of the Economic-Budget Committee of the Hanoi People’s Council, urged the City People’s Committee to review agricultural land types across wards and communes to ensure the Land Price List aligns with current land realities.

Additionally, the City People’s Committee must clarify the impact of the new Land Price List on the city’s economic development, land clearance for projects, and the balance of interests among the state, citizens, and investors.

In its explanatory report, the City People’s Committee stated that the zoning in the Land Price List was based on economic development levels, technical infrastructure, road characteristics, and the profit potential of each area to accurately reflect market prices.

The Committee noted the lack of detailed information on specific agricultural land types in each ward and commune, which could lead to inaccuracies or inconsistencies if classified individually.

Furthermore, agricultural land boundaries may change over time, complicating updates to the Land Price List. Therefore, the list categorizes agricultural land by group and general area to ensure stability and ease of application.

The City People’s Committee emphasized that the new Land Price List adheres to market principles, meets practical needs, and reduces disparities between listed land prices and transaction prices, thereby enhancing policy coherence and real estate market transparency.

Moreover, the modest price increases ensure a balanced budget and do not disrupt business operations, production, or economic development for organizations and individuals.