Land valuation according to market price in Binh Thuy District, Can Tho City

Abstract

The study of land valuation to market price in Binh Thuy District, Can Tho City was carried out in order to evaluate the effectiveness of land valuation by the comparative method and to propose solutions to contribute to completing land valuation methods in the future. The study employed the comparative method according to Circular No. 36/2014/TT-BTNMT of the Ministry of Natural Resources and Environment to collect information and land valuation data and descriptive statistical methods to analyze and evaluate the research data. The results showed that the price of the land parcel needing to be valued was close to the market price and did not exceed ±10% compared to the estimated prices of the land parcels used for comparison. The comparative method was commonly used in Binh Thuy District in particular and Can Tho City in general. This method was easy to use and gave acceptable results. However, the valuation results of the comparative method also depended on the knowledge, experience, and conditioning of the valuer. The comparison method was limited if applied in a market with a low number of trades and the information was not up to date with the time of valuation. The application of the comparative method in land valuation needs to be more complete in terms of its theoretical basis. In addition, it is necessary to add more survey factors (environment, planning factors, etc.) to have an accurate price. It can be applied simultaneously with another method to check and compare to determine the correct land price at the market price.