COMPARATIVE ANALYSIS OF LAND VALUATION METHODS FOR COMPENSATION: VIETNAM AND UK LAW

Povzetek

The valuation of land for compensation when the State recovers land is a critical and often contentious issue, with significant implications forthe rights and livelihoods of affected citizens. This paper examines the current status of land valuation methods in Vietnam, focusing on the legal framework and practical implementation challenges that hinder fairness and transparency. Despite ongoing reforms, including provisions under the new Land Law 2024, the system continues to face inconsistencies in applying valuation principles, often resulting in compensation levels that do not reflect market realities. The study identifies key weaknesses, including limited public participation, a lack of independent oversight, and an outdated land price database. It proposes a multi-dimensional valuation approach combining comparative, cost, and income methods to enhance objectivity and precision in assessments. The establishment of an independent valuation body is recommended to mitigate conflicts of interest and strengthen institutional accountability. By advancing these reforms, Vietnam can move toward a more equitable and reliable land valuation system that not only upholds landowners’ rights but also contributes to social stability and sustainable development. The findings underscore the urgency of continued legal and procedural refinement to build public trust in the land recovery process.