Housing prices in Mongolia’s capital continued to climb sharply, with the Residential Price Index (2023.I=1.0) reaching 1.34 in September 2025, up 14.0% compared to the same month last year and 1.1% higher than in August, according to official statistics.
New Apartments
Prices for new residential units rose 13.5% year-on-year and 1.1% month-on-month.
The average price per square meter for new apartments stood at ₮4.79 million, with Sukhbaatar District recording the highest average at ₮5.56 million per sq.m.
Among districts, price growth for new housing was most significant in:
- Sukhbaatar District: +24.5% (+₮1.1 million per sq.m)
- Khan-Uul District: +4.4% (+₮202,300 per sq.m), the smallest increase among districts.
Existing Apartments
For existing housing, average prices climbed 14.7% year-on-year and 1.3% month-on-month, reaching ₮4.66 million per sq.m nationwide.
Sukhbaatar District again led with the highest prices at ₮5.85 million per sq.m.
By district, the largest price increase for older apartments was observed in:
- Chingeltei District: +22.3% (+₮1.02 million per sq.m)
- Songinokhairkhan District: +10.2% (+₮294,300 per sq.m), showing the smallest gain.
The persistent upward trend reflects sustained demand for housing in central Ulaanbaatar and limited new supply despite rising construction costs and borrowing rates.
