Our team led by Rus Kolinko -Director Hometree Property Valuation Утвержденный оценщик DLD 企业税批准的公司 had a fascinating experience of visiting Ulaanbaatar, Mongolia for an international valuation assignment - a city where ancient traditions intertwine with fast-paced modernisation. As the capital and economic powerhouse of Mongolia, Ulaanbaatar is home to over 1.5 million people and contributes more than 60% of the country’s GDP. The city's rapid urbanization, with an annual population growth of about 3%, highlights its critical role in Mongolia’s ongoing development.
On the real estate front, Ulaanbaatar is undergoing substantial growth, particularly in its residential and commercial sectors. Residential property prices range from AED 400 to AED 680 per square foot for mid-range apartments, with high-end properties exceeding AED 850 per square foot. The market has been growing at a steady rate of 7-10% annually, driven by increasing demand for quality housing. In the commercial sector, Class A office spaces in the city center rent for approximately AED 120-160 per square foot, while retail spaces in prime locations can fetch upwards of AED 204 per square foot. With a balanced vacancy rate of around 10-15% and rental yields ranging from 7-9%, Ulaanbaatar’s real estate market offers promising opportunities for both residential and commercial investors looking to capitalize on a city that’s poised for continued growth.
