Home prices soar in Mongolia’s capital

ULAN BATOR, Sept. 17 (Xinhua) — The price for newly constructed apartments in the Mongolian capital in August increased 6.8 percent year on year, according to data released by the National Statistics Office on Tuesday.
The average price per square meter for newly constructed apartments reached 4.05 million Mongolian Tugriks (about 1,198 U.S. dollars) in August.
Meanwhile, the average price per square meter for second-hand apartments in Ulan Bator was 3.86 million Mongolian Tugriks (about 1,142 dollars) in August, reflecting a significant 14.1 percent rise from the same period last year.
Housing remains a pressing issue in Mongolia, particularly in the capital city, home to more than half of the country’s 3.5 million people. More than half of Ulan Bator’s population reside in ger districts, which lack running water, central heating and sewerage systems. ■