From August 1, agricultural land compensation prices will increase.

The 2024 Land Law has removed the provisions on land price frameworks and land will be priced according to market principles. Accordingly, when the land price framework is removed, each locality will decide on the land price list and adjust the price list once a year to match the market land price (instead of every 5 years and based on the minimum - maximum land price issued by the Government as it is now).

From January 1, 2026, provinces and centrally-run cities will apply a new land price list. The new land price list is regulated to be close to market land prices, and may increase compared to current prices. Meanwhile, compensation prices are calculated based on specific land prices. Thus, land compensation prices will increase compared to current prices, including agricultural land.

In addition, according to the new Land Law, people who are compensated for agricultural land will also receive additional expenses such as support costs for moving livestock, support costs for dismantling and moving assets attached to the land, etc.

In addition, people will also enjoy more benefits in terms of compensation and resettlement when their land is recovered according to the 2024 Land Law.

Article 96 clearly states land compensation when the State reclaims agricultural land from households and individuals.

Accordingly, households and individuals using agricultural land when the State recovers land, if they meet the conditions for compensation prescribed in Article 95 of this Law, will be compensated with agricultural land or money or land with a different purpose than the recovered land or with housing.

Regarding resettlement arrangements, according to the provisions of Clause 6, Article 111 of the 2024 Land Law, people whose agricultural land or non-residential non-agricultural land is recovered, if they meet the conditions for compensation and need compensation in the form of residential land or housing and the locality has conditions for residential land and housing funds, will be compensated by allocation of residential land or resettlement housing.

Thus, households and individuals whose agricultural land is recovered can be compensated with residential land or housing if there is a need and local land funds allow.