Land price and determination of land price in compensation when the state recovery land

Abstract

After nearly thirty years since the Law on land in 1993 laid the foundation for determining the value of land use rights and building land prices, the valuation of land use rights in Vietnam persistently presents many problems. The mechanism of two land prices, including the price set by the state and the other set by the market, with their wide difference in practice, brings many obstacles in implementing the land law, especially in determining land prices in compensation for people whose land is recovered. The construction and determination of land prices in coming days need to be further reformed. Most importantly, it is necessary to clarify the legal approach, with the economic development targets and the effective framework to smoothly operate the land use rights in the market. Accordingly the determination of land prices and methods of using land prices should minimize the degree of administrativeization of property relations, avoid the risk of being taken advantage of for profiteering and serving separate interest groups. One of crucial solution to these goals is a way of homogenization on land price in vigorously promoting and processing data generation on land prices across the country as a significant activity in land law enforcement as Decree No. Decision 18-NQ/TW confirmed.