Mongolian Properties provides property tour services to clients with an intent to expose them to the real estate market conditions on the ground. The tour is dedicated to everyone from individual who is seeking to rent or buy a property or to people who are in town for a short period of time and wants to understand the city and the properties offered in Ulaanbaatar city.
The residential real estate market of Ulan Bator is divided between the buoyant lower end, and the oversupplied upper end/luxury market:
- Over half of the residents of Ulan Bator still live in traditional dwellings known as gers, or in housing not well connected to permanent infrastructure. So there´s big demand in the lower end market, encouraged by rising wages and massive government-sponsored access to mortgage financing.
- But luxury real estate has a significant oversupply of projects competing for a limited number of buyers and scarce financing.
The average apartment price in Ulan Bator currently stands at MNT2.2 million (US$815) per square meter (sq. m.), according to The UB Post's August 2019 Interview with B. Javkhlan, CEO of real estate portal www.oly.mn. However, in the capital city’s central business district (Sukhbaatar district), that caters to expats and the ultra-rich, prime residential prices averaged MNT 8.53 million (US$ 3,158) per sq. m., according to the Q2 2019 economic update by Mongolian Properties.
Ulan Bator’s most desirable residential buildings/compounds include The Brauhaus, the Temple View Residence, The Jiguur Grand Office Building, The Star Apartments, The Royal County, The Sarnaikh Building, Lux House, The Erel Building, The Russian Embassy Building, Regency Residence, and the Blue Sky Tower, among others.
The “Embassy District” and the area around the State Department Store, also known as the 7 Courtyards, are two of the most popular residential areas for foreign homebuyers and tenants, as well as wealthy Mongolians.
The tour will explain the housing dynamics of the city and present the clients with a number of choices, give them insight information on how the city is changing and what are the most anticipated developments that are under construction etc.