Last month marked the 60th anniversary of Mongolia’s initiation into the United Nation, a historic milestone given the country’s tumultuous history. As we look back, Mongolia’s membership into the U.N hasn’t been without its setbacks. In fact, its entry was overshadowed and undermined by geopolitical dynamics and maneuverings of the Cold War, with the United States and the Soviet Union acting as inflexible roadblocks each with their own set apprehensions.
Home to the world-famous Genghis Khan, the land-locked and remote Asian nation now employs a more nuanced method of attracting the world spotlight than conquering territories in outer Eurasia.
Gender parity is often portrayed as a very "black and white" issue—it either exists or it doesn't. Most societies, however implicitly, tend to be very geared toward males, with the reality of gender parity a mere ghost of what could be. Societal norms reflect this in various facets, such as literacy rates and employment. Mongolia is a unique case study when it comes to analyzing gender parity theory in practice.
Under the Soviet regime, all land in Mongolia was owned and collectively managed by the state. The 1992 constitution allowed for different forms of private land and immovable property tenure. Apartments were privatized by the thousands, as were industrial centers, farms and livestock. However, partially due to low population densities, the vast majority of land remained public property.
Mongolia faces a daunting task in improving its physical infrastructure, but has an administration with the ability to do it. On the back of stronger economic performance in the last year and pragmatic policy making, Fitch anticipated that the country’s construction industry will grow from MNT1017bn this year to 1589bn MNT in 2020.
For investors investing across international borders, the foreign exchange rate can be incredibly important. If the currency is devaluing fast, any gains on investment into assets valued in that currency can be significantly diminished. Mongolia’s exchange rate (against the US dollar) has not done well in the last few years, due to government policies against foreign investment, but shows signs of stabilizing, as the government has reversed its policies.
Taxes in Mongolia can be difficult to navigate, so we condensed and shortened some of our 2018 Mongolia Real Estate Report to give to you as useful content for investing in an exciting emerging market.
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Mongolian Properties is the oldest, largest, and most reputable Mongolian real estate agent. We are a real estate intermedeiary and advisory firm offering agency, representation, property, management, property valuations, interior design, furnishing and financial intermediation services.
