As of the third quarter of this year, the average price of new apartments in the capital city reached 2.49 million MNT per square meter, an increase of 2.48 percent from the previous quarter.
However, it increased by 7.8 percent compared to the same period of the previous year. The increase was mainly due to changes in exchange rates and rising prices for construction materials. If we look at the average price of new apartments by district, the highest price is in the Chingeltei district, that located downtown. The average price of new apartments in the district reached MNT 3.8 million per square meter, an increase of 7% from the previous quarter. The lack of new housing projects in the Chingeltei district has contributed to the rise in prices. In other districts, the average price of a new apartment ranges from 1.7 to 3 million MNT per square meter.
As of September, a total of 512 projects are being implemented. These include 385 public housing projects and 127 housing projects. Of these, 245 projects for more than 41,000 households are new apartments.