Mongolia’s capital sees 6.8% rise in new apartment costs

Mongolia’s capital city experienced a 6.8 per cent year-over-year increase in new apartment costs in August, according to National Statistics Office data.

The average price per square metre for new apartments reached 4.05 million Mongolian Tugriks (approximately $1,198), indicating a significant increase compared to the previous year.

Meanwhile, second-hand apartments recorded an even more substantial rise, with prices reaching 3.86 million Mongolian Tugriks per square metre ($1,142), representing a 14.1 per cent increase from August 2023.

Attribution: Xinhua

Subediting: Y.Yasser