I had just sent my "Georgist analysis" off when I came across this reference. In of all places communist Viet-Nam. They are having trouble with high land prices.
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Urban land prices set for Govt regulation
HCM CITY The Government has its task cut out in formulating a pricing framework for urban land nation-wide with prices already soaring beyond the ceilings set by a draft decree.
This is especially true of big cities like Ha Noi and HCM City, say experts but they welcome the decree as one that would bolster the real estate market.
The draft decree divides urban land into five broad categories each of which has five different classes of streets. Minimum and maximum prices of the properties on these streets are then evaluated on the basis of their specific location those that face the main street or located in remote alleys and so on.
<snip>
According to Vo Dinh Quoc, director of property investment at the Asia Commercial Bank, the maximum land price of VND40 million a sq.m is "quite reasonable" since many commercial quarters in HCM City could attract much higher values.
He adds that it is not easy to buy a house or a plot of land in the citys central district. "Owners of houses in busy streets such as Le Loi Boulevard, Nguyen Hue Avenue and Le Thanh Ton Street are unlikely to sell up even if offered more than VND40 million a sq.m."
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In our money, that's $2,740 a square meter.
The Vietnamese News Service news item is at:
http://vietnamnews.vnagency.com.vn/2001-06/08/Stories/04.htm
You saw it here first - watch for the land 'black market' to arise with dels under the table.
And so it goes!
Harry
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Harry Pollard
Henry George School of LA
Box 655
Tujunga CA 91042
[EMAIL PROTECTED]
Tel: (818) 352-4141
Fax: (818) 353-2242
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