Assessing the impacts of the land development system on land prices in Vietnam’s metropolises

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  • VU Minh Hoang
    Graduate School of Agricultural and Life Sciences, University of Tokyo
  • KAWASHIMA Hiroyuki
    Graduate School of Agricultural and Life Sciences, University of Tokyo

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  • ベトナムの大都市における開発システムが土地価格に及ぼす影響の評価

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Abstract

<p>Land prices in Vietnam’s metropolises of Ho Chi Minh City and Hanoi are extremely high at their current level of economic development. Through analysing the system of land development in Vietnam, the study found that the high land prices are due to the low supply of agricultural land for conversion, which cannot meet the growing demand for homes in both cities. On one hand, agricultural households are reluctant to sell their land to developers because of the low compensation. On the other hand, developers are less motivated to increase their investment due to the volatile land market and the high tax level. In order to circumvent the stated problems, the study recommends that agricultural households should receive higher compensation, while taxes should be decreased for land developers. This will simultaneously increase the willingness of both agricultural households and developers to convert agricultural land for urban use.</p>

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