The Mongolian Ministry of Building and Urban Construction and other market experts believe that the number of surplus apartments will reach 16,000 over the next five years. The researchers studied the supply and demand and home-buyers’ ability to purchase new accommodation.

There is a real demand for apartments; in Ulaanbaatar, 189,240 families currently require accommodation, and outside the capital, 16,000 families do not have an apartment. Only 31.2% of them, however, currently have the guaranteed financial wherewithal to purchase an apartment. The researchers consider that will be a parity between the supply and demand of apartments supply within the next three years.