The Bank of Mongolia and “Tenkhleg Zuuch” have released the results of the Apartment Price Index (API) for December 2015. This study involves 5153 old and new apartments which went on the market in the Mongolian capital in the previous month. As of December 2015, the API fell by 1.1%, comapared to November and was 11.3% compared to December 2014.

The price of new apartments

The average per square meter price fell to MNT 2,050,000 in December 2015. This price represents a 0.1% reduction on November 2015 and 4.6% on December 2014.

The price of old apartments (2-rooms)

The average price of a 2-room apartment fell to MNT 83,960,000 in December 2015 – a reduction of 1%.

The highest price for 2-room apartments is in Ulaanbaatar’s centrally-located Sukhbaatar district; the lowest is in the Songinokhairkhan district.  

Source: Monthly calculations by “Tenkhleg Zuuch”.