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Apr 19, 2015

Rental market growing


 

Mongolia's rising property prices have resulted in stronger demand for rental property as households choose to rent rather than buy. Mongolia Properties estimates rental yields at about 15-18% per annum.

In Ulan Bator average rental yields between 2005 and 2013 were over 11% per year. Presently the average rental rate of:

  • one-bedroom apartment for local residents is between MNT 300,000-500,000 MNT (US$151-252) per month
  • two-bedroom apartments rent for between MNT 500,000-750,000 (US$252-378) per month.

Prices in the upper end of the residential rental markets (including those geared towards expats) have remained reasonably stable at around US$ 600-800 per month for a one-bedroom apartment near the CBD, based on M.A.D. Research estimates.

EXPATRIATE RENTAL MARKET

  Young professionals/ Voluntary service personnel Professionals Mid-management/ Consultants Senior executives/ Heads of mission/ Diplomats
Type of accommodation Studio/ 1-bed/ shared Studio/ 1-bed Studio/ 1-bed/ 2-bed 2-bed minimum, with separate kitchen
Floor size 40-60 sqm 40-80 sqm 60-100 sqm 120-300 sqm
Rental ceiling US$500-US$900 US$600-US$1,500 US$1,200-US$3,000 US$2,500-US$8,000
Source:  M.A.D. Research





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