The 2024 Hanoi land price list and its impact on the city’s real estate market

This study examines the impact of Hanoi’s 2024 state-issued land price schedule on the local real estate market, with particular emphasis on its ability to reflect actual market values. The findings demonstrate that, although the official land price schedule serves as a reference for land valuation, its alignment with market prices remains limited and varies considerably across locations. Market prices appear to be more responsive to official land valuations in suburban areas and locations with greater accessibility, whereas substantial discrepancies persist in central urban wards and areas with high commercial potential. These disparities reveal the inherent limitations of rigid, road-based land valuation methods, which have struggled to accommodate the dynamics of rapid urbanization and increasingly differentiated land markets. The study further underscores the significance of intra-regional spatial heterogeneity, a critical yet frequently overlooked dimension of existing land valuation policies.