Ulaanbaatar has been experiencing a building boom. This is likely to continue as the “ger districts” are developed. At present, approximately 250 companies are constructing apartments in the Mongolian capital. Home-buyers, however, face many questions; what about the quality of the buildings? Who are the builders? Then, there are the questions about mortgage rates?
In order to help the public, a new service called the “Apartment Market” was launched on 1st April. Located in the in the “Misheel” building, the “Apartment Market” is staffed by professional advisors providing a “single-window” offering free information on apartments – their location, price, standard of construction and whether they come under the 8% or the 5% mortgage rate.
The “Apartment Market” is really unique in Mongolia, helping not just the public, but also the construction and real-estate companies. This “single window” also provides practical financial information regarding banking a notary office and a property registration facility…and it is free to the public.