On 15th June 2015, the Government approved the “Apartment Rental” program in order to provide accommodation to people who do not have the ability to buy apartments with mortgages. Under this program 16,000 apartments will be provided in Ulaanbaatar and 4000 in aimag (provincial) centers over a five-year period from 2015-2021. Minister of Construction and City Management D.Tsogtbaatar, Minister of Finance J.Erdenebat and the aimag city mayors will be responsible for obtaining and organizing the required funds. Foreign preferential credit and other sources will be used.
According to statistical information from last year, 28% of all Mongolians live in apartments with hot running water. In Ulaanbaatar 40% live in such apartments; the remainder lives in the ger districts.
The availability of permanent apartments for people currently living in poor housing and in the ger districts is an urgent problem for the government to solve.
In 2014, a total of 22,900 families were renting apartments. Even though, the number of people who are interested in rental is increasing, supply does not meet demand and prices remain high.