Efficient and sustainable use of land resources would help accelerate the country’s industrialisation and modernisation process, ensure social stability and national security, and protect the environment, creating motivation for Vietnam to become a developed economy, insiders said. The new law also abolishes the land price frame. Instead, land price table will be updated annually and the first land price table will be applied on January 1, 2026. The new land law allows expanding the limit of individuals who can receive transfer of agricultural land use rights under regulations. The announcement of planning and the implementation of public-invested projects will have huge impacts on the real estate market in 2024. However, not until 2025 can the real estate market see clear signs of recovery, when the new law comes into force and helps tackle existing legal bottlenecks./.