Continuing the analysis of possible countries where we can start from scratch, investing in local real estate, we at Realigro, we have dwelt on a very special land. We are in Asia, precisely in the eastern part of the continent. The nation of the day has no outlet to the sea and has the lowest population density in the world. After having been ruled for centuries by multiple empires, today it presents itself as a market economy oriented state on an international scale. The protagonist of today is Mongolia.
Are you ready to discover more? Then make yourself comfortable: buying a property in Mongolia will be the key to understanding the basis of our mini guide. Let's get started!
What are the characteristics that make this place so special?
Let's start with the geographical ones. Mongolia is a clear example of an extremely varied nation: mountains and cold regions in the north merge with the southern areas characterized by a much milder climate, given the presence of the famous Gobi Desert.
Famous is also the lake Uvs Nuur, in common with the Republic of Tuva, of neighboring Russia (UNESCO World Heritage). Given the presence of different areas, it is not surprising how this state bases its economy on the exploitation of local resources, such as oil fields and sheep farming subsistence. Also the agricultural sector is widely developed, which contributes largely to the national GDP.
Famous for its industrial sector is the processing of cashmere, a material exported all over the world, which makes Mongolia a leader in this production.
Today Mongolia presents itself as a dynamic state, determined to grow and maintain its national identity. This is also possible thanks to the special attention paid to the wonderful local realities, which, every year, attract millions of tourists.
Among these we remember :
- National Park Gorkhi-Terelj, with hot springs;
- Monastery of Gandantegchinlen Khiid;
- The ancient Tibetan monastery of Erdene Zuu
- The area of Bajanzag , one of the realities particularly appreciated by lovers of archaeology
Among the most popular cities, where it is possible to reallocate, are important to mention:
- Ulan Bator, the capital, located downstream of the Tuul River, economic hub but also the center of Buddhist tradition,
- Hôvsgôl , with the fantastic lake Nuur
- Karakorum , the old capital of the empire cradle of local history
Let us now enter into what is the Mongolian economic reality. What is the cost of living?
To answer this question, we decided to include a small list of goods and services typical of the place, with prices for the same. Let us remember that the national currency is the Mongolian Tugrik , corresponding to 0.0003 euro.
Meal, Cheap Restaurant 6,000.00 ₮
Meal for 2 People, Medium Restaurant, Three Serves 50,649.32 ₮
Menu from McDonalds (or equivalent menu) 13,162.33 ₮
National beer (0.5L draught) 4,000.00 ₮
Milk (normal), (1L) 2,516.23 ₮
Freshly baked white bread (500g) 1,495.54 ₮
Rice (white), (1kg) 3.484,24 ₮
Eggs (normal) (12) 4,369.22 ₮
Local cheese (1kg) 21,514.59 ₮
One way ticket (local transport) 500,00 ₮
Monthly subscription (full price) 30,000.00 ₮
Initial taxi charge (normal rate) 1,000.00 ₮
Basic (Electricity, Heating, Air conditioning, Water, Garbage) for an apartment of 85m2 147.753,71 ₮
And for the real estate sector? Again, we have clear answers.
Monthly rent in the capital starts from 438,813.72 ₮ , while to buy a property, we start from 1,868,699.41 ₮ per square meter.
We have told you everything, but just everything. Now you just have to buy your tickets and set off to discover Mongolia!
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