Vietnam’s guidelines on 4 land valuation methods under Decree No. 71/2024/ND-CP

Decree No. 71/2024/ND-CP provides for land valuation methods prescribed in Article 158; development, adjustment, and revision to the land schedule prescribed in Article 159; specific land price determination prescribed in Article 160; requirements for provision of consultancy on land valuation prescribed in Point b Clause 3 Article 162; application of land valuation methods of cases prescribed in Point c Clause 2 Article 257 of Vietnam’s Land Law 2024. 

4 land valuation methods 

According to the Decree, procedures for and contents of land valuation shall follow 4 methods, i.e., comparison method, income-based method, surplus-based method, and land price adjustment coefficient method. 

The Decree also stipulates the application of land valuation methods of cases prescribed in Point c Clause 2 Article 257 of the Land Law 2024. 

Factors affecting land prices regarding non-agricultural land include: 

Location of the land parcel or land zone; traffic conditions; width and structure of road surfaces adjacent to 1 or many other road surfaces; water drainage and power supply conditions; area, size, and shape of the land parcel or land zone; factors related to construction planning; current state of environment and security; land use term; other factors affecting land prices in conformity with actual conditions, cultural traditions, and practices in provinces. 

Factors affecting land prices regarding agricultural land include: 

Crop and livestock productivity; location and characteristics of the land parcel or land zone; closest distance to the production and consumption places; traffic conditions serving production and consumption: width, road class, and road structure; geographical conditions; land use term, excluding agricultural land allocated by the State to households and individuals according to the limit on allocation of agricultural land or agricultural land within the limit on receipt of land use rights of agricultural land by disposition, it is not based on the land use term.

Decree No. 71/2024/ND-CP, effective as of August 1, 2024. 

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE