Guidance on 04 methods of land valuation in Vietnam under Decree 71/2024/ND-CP

Decree 71/2024/ND-CP stipulates the methods of land valuation in Vietnam as specified in Article 158; construction, adjustment, amendment, and supplementation of land price lists as prescribed in Article 159; specific land valuation as mentioned in Article 160; conditions for practicing consultancy services in land valuation as stated in point b, clause 3, Article 162; and the application of land valuation methods for transitional cases as specified in point c, clause 2, Article 257 of the Land Law 2024.

04 methods of land valuation under the law in Vietnam

The specific procedures and contents to determine land prices using 4 methods are defined, including comparison, income, surplus, and land price adjustment coefficient.

The Decree also details the use of land valuation methods in Vietnam for the cases specified in point c, clause 2, Article 257 of the Land Law 2024.

The Decree specifies the factors affecting land prices for non-agricultural land, including:

Location and position of the land parcel or plot; traffic conditions: width, road surface structure, adjacency to one or multiple roads; water supply and drainage conditions, electricity supply; area, dimensions, and shape of the land parcel or plot; factors related to construction planning; environmental status, security; land use term; and other factors affecting land prices suitable for actual conditions, cultural traditions, and local customs.

The factors affecting land prices for agricultural land include:

Crop and livestock productivity; position and characteristics of the land parcel or plot: closest distance to production and product consumption areas; traffic conditions serving production and product consumption: width, road grade, road surface structure; topographic conditions; land use term, except for agricultural land allocated by the State to households or individuals within the agricultural land allocation limit, or agricultural land within the transfer limit is not based on land use term; and other factors affecting land prices suitable for actual conditions, cultural traditions, and local customs.

Decree 71/2024/ND-CP takes effect from August 1, 2024.

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