Land prices in the City Centre of Ho Chi Minh City have been set at a record new high price of VND 81 million per square metre, the Ho Chi Minh City People’s Council announced.

This Decision was reached during the Council’s meeting to evaluate land prices for the year 2009.

Accordingly, prices were set for the streets of Dong Khoi, Le Loi and Nguyen Hue. The land price for these streets was previously VND 67.5 million per square metre.

The new land price framework keeps land prices unchanged in side lanes in Ho Chi Minh City, while along other streets, price increases varied from 10% to 100%.

With the Decision land prices along 1,899 streets and roads increased, while prices along 675 streets and roads remained unchanged, and only in 8 streets and roads was the price reduced.

In addition, during the meeting of the council, new prices were also set for agricultural land.

After final approval by the council, Ho Chi Minh City People’s Committee will issue a new price list for land in the city.

The list will be published at the end of this year, and will be applied starting from January 1st, 2009.

Source: VN Express

Translated by Ngoc Hung