The Mongolian Real Estate Market
Mongolia's real estate market has seen extensive development in recent years and many investors, both local and foreign, have benefited greatly by recent soaring property prices. Apartment prices in Ulaanbaatar and other major cities of Mongolia have "gone through the roof" in the past several years. Happy indeed are the investors who purchased real estate (apartments) in Mongolian cities in the early 90s for a few thousand dollars and have seen their property rise in value an average of 20-40% a year ever since. Add to that revenue from apartment rental and you have a very profitable asset!
Property prices hit a low in the early 1990s, but since then property appreciation has just grown. This is seen particularly in the larger cities such as Ulaanbaatar (Ulan Bataar). Real estate prices in smaller towns and villages have however remained quite low.
Real estate in Mongolia is a great investment whether you are planning on reselling or renting. Unkhaalag Setgelgee can be contacted online, which is a great way for people from around the world to invest in property in Mongolia.
Many investors made their decision to enter the Mongolian market after the country showed its strong democratic system. The country will likely continue to move in the same direction. As you will read in this web page, acquiring real estate in Mongolia is not difficult at all.
Typical rental prices in Mongolia are usually 5-10% of the property value per year, or 0.8% per month. In other words, an apartment that would currently sell for $40,000 USD would probably cost $160-320 per month to rent (closer to the middle of this range would be most typical).
People from any country may purchase Mongolian real estate excepting agricultural land. If you are interested in purchasing residential real estate in Mongolia you will only require a valid passport. It is possible to purchase property through an Mongolia real estate agency without being physically present. Common practice amongst foreign real estate buyers is to open a bank account in Mongolia and then transfer money for the purchase into this account. Once you purchased a property administration of immovable property will issue a property act that you’ll keep as prove of ownership of your property.
We offer rental and property care services, allowing foreigners owners to not have to worry about their property at all. Owners can agree to pick up rent from the agency periodically or have the money deposited to their Mongolian bank account.
So why not look around for a great piece of real estate in Mongolia. Whether you rent it out or keep it as a holiday home, it is a great investment, one that you are unlikely to regret.