Amidst discussions of Mongolian recovery, questions arise as to its implications for the luxury real estate market. Standing next to the Zaisan Monument, overlooking Ulaanbaatar, a casual observer could be forgiven for thinking there is a flurry of activity - perhaps even oversupply. But in this city where explosive growth gave way to recession, most schemes stand little chance of completion, at least in the meantime. The debt market - known for cripplingly high interest rates - has arrested development, placing a premium on newly completed stock in the city centre.
Mongolian Properties has been lucky to support investors from all over the world, who want to benefit from Mongolia's exciting economic story. We recently caught up with Dan Smith from the UK, who was an early investor in Ulaanbaatar, and who says he could be back for more.
Mongolia is famous for many things, and being a hotspot of construction activity is not among them - but perhaps it should be. Thanks to a booming economy, the country is developing at a rate of knots. Building finds out why it’s well worth braving the cold.
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.