The government has submitted amendments to the new laws on Land, Housing, and Real Estate Businesses, to the National Assembly requesting that they take effect from this year. Previously the bulk of said laws was slated to kick in from January 1 2025.
Most submissions made by the government to the National Assembly are approved and this will likely be no exception.
Among the key regulations this change will see come into force early are adjustments to the Law on Land that will remove land pricing regulations that see a price set every five years based with which, using their own coefficients, local governments determine the price of land. With land values increasing faster than the centrally set price and, believing their land to be worth more, landowners had in the past refused to sell waiting for a better price and this has held up a number of projects.