Rental market growing
April 19, 2015
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|
|Source: M.A.D. Research|