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|