According to a request from the Bank of Mongolia, the “Tenkhleg Zuuch” real estate company has released the January results of the Apartment Price Index (API).

The API of the January was 5.7%, which represents a 0.16% increase on the previous month. This figure is also by 10.4% reduction on January 2015.

The average per square meter price of new apartments was MNT 2,047,000 in January 2016, this being a 0.2% reduction on December 2015 and 5.3% on January 2015. The most expensive new apartments are in the Sukhbaatar district; the cheapest are in the Songinokhairkhan district. This price difference is the same for old apartments.

The API results are based on the 5062 old and new apartments, which were on the market and were sold in January 2016.