According to G.Munkhbayar, Minister of Construction and Urban Development, the Mongolian Government will continue the 8% interest housing mortgage. But the mortgage loan interest will be reduced to 5% for local residents.

The “8% mortgage” is a nation-wide programme initiated and implemented by the government through commercial banks. The government started the programme in 2013 as a means of increasing the affordability and accessibility of apartments for urban residents, particularly young families and those living in poor conditions in the ger districts.