DETERMINATION OF LAND PRICE IN VIETNAM

Author: Hoai Tran

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Publisher: Nagashima Ohno & Tsunematsu

Journal / Book: NO&T Asia Legal Review No.37 (July, 2021)

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*Please note that this newsletter is for informational purposes only and does not constitute legal advice. In addition, it is based on information as of its date of publication and does not reflect information after such date. In particular, please also note that preliminary reports in this newsletter may differ from current interpretations and practice depending on the nature of the report.

Overview
In Vietnam, land is owned by the Vietnamese people and the State grants land use rights to land users. When the land user performs his financial obligations to the State or receives compensation from the State for relinquishing his land use rights, the land price must be determined in accordance with the rules set out under the Land Law 2013 (“Land Law”) and its implementing Decree 44/2014, as amended by Decree 01/2017 (“Decree 44”). But if the land user conducts transactions with private parties, he may freely agree on the land price without needing to comply with those rules.

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