Tenkhleg Zuuch reports on Q3’17 real estate sales

The American Chamber of Commerce in Mongolia

2017-12-08 11:45 GMT+8

Tenkhleg Zuuch LLC has compiled a report on the residential property market in the third quarter of 2017, stating that 76.8 percent of all operational apartments have been sold. 

As of the first ten months of 2017, there were 35,497 apartments being built for 231 projects. Over 21,000 of these apartments were complete by the end of October, and 4,915 remained unsold.

Real estate agencies say that the demand for real estate services has been increasing. One of Mongolia's first real estate agencies, Mongolian Properties, signed 150 rental agreements and made 10 million USD in sales in 2017.

RE/MAX Mongolia sold 32 billion MNT in properties as of the third quarter of 2017. Mongolian Properties noted that buyers are willing to pay higher prices for apartments with a good location and services. RE/MAX also says that rental properties are still in high-demand.

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