According to data provided by the National Statistical Office, the average cost per square meter of new buildings in the capital of Mongolia reached ₮5.03 million (about $1412) by the end of December, which is 10.8% higher than the figure for the same period last year.
In addition, the average price per square meter in the secondary housing market in Ulaanbaatar in December was ₮5.06 million ($1420), an increase of 13.6% compared to December of the previous year.
Experts attribute this significant growth to the increasing demand for housing per capita.
Despite Mongolia being one of the least populated countries, the housing issue is particularly pressing in Ulaanbaatar, where more than half of the country's 3.5 million citizens reside.
For the youth in Mongolia, home ownership has become a symbol of stability and dignity. However, it should not be viewed as a luxury, but rather as a basic human need. As a result, many strive to find housing near educational institutions for their children to ensure a comfortable and safe environment for the family.
Government authorities are obliged to respect and protect citizens' rights to decent, safe, and adequate housing.
