Real Estate in Mongolia
Last updated on Jul 13, 2023
Summary: An expat looking to buy a home in Mongolia should begin their search by researching the local real estate market. They should look for listings on websites such as Zillow, Trulia, and Realtor.com, as well as local real estate agents. Homes in Mongolia typically include basic amenities such as running water, electricity, and heating. Many homes also have air conditioning, internet access, and modern appliances. Foreigners are allowed to own property in Mongolia, but there are some restrictions. Foreigners are not allowed to own land, but they can own buildings and apartments. They must also obtain a permit from the Ministry of Construction and Urban Development in order to purchase a property.
How do I find a place to live in Mongolia?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One way to find a place to live in Mongolia is to search online for rental listings. Websites such as expat.com, mongolia-rentals.com, and mongolianproperty.com offer a variety of rental listings for apartments, houses, and other types of accommodation. Additionally, you can search for rental listings on popular classifieds websites such as Craigslist and Gumtree. You can also contact local real estate agents who specialize in rental properties in Mongolia. Finally, you can ask friends and family who live in Mongolia for recommendations," said one expat in Mongolia.
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What is a typical expat home or apartment like in Mongolia?
"Expat homes and apartments in Mongolia tend to be modern and comfortable, with amenities such as air conditioning, internet access, and western-style bathrooms. Many expats choose to live in Ulaanbaatar, the capital city, where they can find a variety of housing options, from high-rise apartments to single-family homes. Expats can also find housing in other cities and towns throughout the country, although these tend to be more basic and rustic. In general, expat homes and apartments in Mongolia are well-equipped and comfortable, providing a great base for exploring the country," said one expat who made the move to Mongolia.
What is the average cost of housing in Mongolia?
If you are thinking about moving to Mongolia, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Mongolia varies depending on the location and type of accommodation. Generally, renting an apartment in a city center can cost anywhere from $200 to $500 per month, while renting a house in a rural area can cost around $100 to $200 per month," remarked one member in Mongolia.
Should I buy or rent a home in Mongolia?
If you have not spent a lot of time in Mongolia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"When deciding whether to buy or rent a home in Mongolia, it is important to consider the cost of living, the availability of housing, and the length of time you plan to stay in the country. Buying a home in Mongolia can be a great investment, as property values are likely to increase over time. However, it is important to factor in the cost of maintenance and repairs, as well as the cost of a mortgage. Renting a home in Mongolia can be a more cost-effective option, as it eliminates the need for a large down payment and allows for more flexibility in terms of length of stay. Additionally, renting can provide access to a wider range of housing options, as there are more rental properties available than there are for sale. Ultimately, the decision to buy or rent a home in Mongolia should be based on your individual needs and financial situation," explained one person living in Mongolia.
What do I need to know when buying property in Mongolia?
When we asked expats what advice they would give a foreigner before buying a property in Mongolia, they said:
"1. It is important to research the local laws and regulations regarding property ownership in Mongolia before making any purchase. 2. It is also important to understand the taxation system in Mongolia and the associated costs of buying property. 3. It is advisable to seek legal advice from a qualified lawyer or real estate agent before making any purchase. 4. It is important to ensure that the property is free from any legal disputes or encumbrances. 5. It is also important to check the title deed of the property to ensure that it is valid and up to date. 6. It is advisable to inspect the property thoroughly before making any purchase. 7. It is important to ensure that the property is in good condition and that all necessary repairs and renovations have been completed. 8. It is also important to consider the location of the property and the surrounding area before making any purchase. 9. It is advisable to obtain a surveyor’s report to ensure that the property is structurally sound. 10. It is important to ensure that all necessary paperwork is in order before making any purchase," said one in Mongolia.
Are foreigners allowed to own property in Mongolia?
When we asked expats what advice they would give a foreigner before buying a property in Mongolia, they said...
"Yes, foreigners are allowed to own property in Mongolia. The Mongolian government has implemented a number of laws and regulations that allow foreign individuals and companies to purchase and own real estate in the country. Foreigners are allowed to own land, buildings, and other types of real estate in Mongolia, provided they obtain the necessary permits and licenses from the relevant government authorities. Foreigners are also allowed to lease land and buildings in Mongolia, although they are not allowed to own the land itself," said one in Mongolia.
What appliances are typically included in a rental?
We asked foreigners in Mongolia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Mongolia, rental properties typically include a refrigerator, stove, washing machine, and air conditioner. Other common appliances may include a microwave, dishwasher, and water heater. Furniture may also be included in the rental, such as beds, couches, and tables," remarked one foreigner who made the move to Mongolia.
Additional Information about Searching for a Home in Mongolia:
We asked foreigners in Mongolia what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Mongolia by looking online for real estate listings, contacting local real estate agents, and asking other expats for advice. They can also search for rental listings on websites such as Expat.com and Mongohousing.com. Additionally, expats can look for housing in local newspapers and magazines, or attend expat events to network and find housing opportunities," said one expat in Mongolia.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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