Mongolia's housing market recovering
This content is archived.
Ulan Bator’s housing index is up! The world’s newest house price index rose 4.46% y-o-y to Q1 2011, though when adjusted for inflation house prices were 3.36% down y-o-y. But in the first quarter of 2011 the index rose by 1.6%, the third quarterly rise since late 2008, when house prices began to fall due to the commodity crisis.
The index, which covers six districts of Ulan Bator, the capital, was first published in the fourth quarter of 2008 by the National Statistics Office of Mongolia.
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