Business  » Property

The new national land price frame for 2011 will remain largely unchanged from last year, especially in urban areas such as Hanoi and Ho Chi Minh City.

Hanoi’s maximum land prices is VND81 million/sqm (Illustrative photo)

The decision is in line with the government’s goal to stabilise land prices and control the inflation rate, which has been estimated to be 11.75 per cent for 2010.

The new price sets the minimum price of land in Hanoi at VND2.34 million ($117) per square metre. The highest prices, in and around certain streets in Hoan Kiem District, such as Hang Ngang and Hang Dao, will be VND81 million ($4,050) per square metre.

In rural areas, the minimum price will be VND250,000 ($12.5) per square metre and the maximum will be VND2.25 million ($112.5) per square metre.

In districts such as Tu Liem, Gia Lam and Thuong Tin, which are undergoing rapid urbanisation, the minimum price will be VND1.67 million ($83.5) and the maximal price will be VND26.4 million ($1,320) per square metre.

In Ho Chi Minh City, land prices will stay the same as last year for 2,885 out of the 3,003 streets listed in the price frame.

Streets such as Dong Khoi, Nguyen Hue and Le Loi will retain the highest values, at VND81 million ($4,050) per square metre, while streets with the lowest values will be VND110,000 ($5.5) per square metre in Can Gio District.

Maximum prices for agricultural land will be VND190,000 ($9.5), and the minimum will be VND45,000 ($2.25) per square metre.

In central Danang, the highest price will be set at VND25.2 million ($1,260) per square metre on the streets of Nguyen Van Linh, Le Duan and Hung Vuong while the lowest prices will be VND28,000 ($1.4) per square metre in mountainous areas.