Mongolian Properties - Real estate in Mongolia | What to buy in Ulaanbaatar - Ulaanbaatar is a city built by the Soviets alon...

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What to buy in Ulaanbaatar

Ulaanbaatar is a city built by the Soviets along the soviet ideals of architecture, in short, it is blocky ugly and prone to collapsing, this is very clearly visible when walking around the city. Various waves of construction and developments have come through the city and each has left its mark. Prices for rental and sales of real estate is greatly affected by the age and the state of the building.

The Pink Buildings

The city was originally built with those. They are extraordinarily strong with thick walls and high ceilings. They were built in the 1940’s to the 1960’s. The prices of those buildings are actually on the rise; this is because they are solid and comfortable. There are generally three to four floors high while some also have balconies. They are great for renovations and to live in. Often full of character and cracks.

The Goulag Towers

Built in the 60’s and 80’s they litter the landscape in most of the old socialist states. They were built at a time of desperate need when a large percentage of the population had neither housing nor choice in where they lived. Those towers were for the most part built in factories on the cheap and they certainly look like it. There are a few of them around the city centre, behind the MCS Plaza and opposite the Russian Embassy are prime examples. They are generally 5 to 8 floors high, no elevators, no security and regularity have problems with plumbing and electricity. The advantages of living in the goulag towers is that they are quite cheap, some are in the city centre and they provide for amusing stories back home as they are full of local live. Some of those goulag towers apartments have been bought by expats and renovated. They make for a great deal if you can get your hands on one of those.

The Courtyard Developments

When the Soviets first started developing the city with the pink and orange buildings, they built them in a square around a large central courtyard which was communal to all the buildings along the square. This meant that kids and the elderly could go out and play in those courtyards without any risk. As the price of land in the city is becoming more scarce and valuable, those courtyards and the gaps to them are being built upon. This phenomenon started in the 90’s and is still on-going. Those buildings are generally very popular with the expat, they are often built with garage space underneath, a fence around it and spacious and light apartments within them. The apartments are modern and for the better part very comfortable.

The Luxury Ones

For the past five years or so there has been a flurry of new developments being built in and around the city, each new development is generally better then the last. They are starting to incorporate all the mod cons as standard into the buildings, are generally well located and popular with the expats. You can expect to pay considerably higher prices for those higher standards. The latest buildings such as the Park View Residence and the Star Apartments are very hard to get into as they have waiting lists. Golomt towers still have a few apartments left for rent but the building is slightly out of town. Mongolian Properties maintains an online listing of all the availabilities in town.

The Next Wave

There is a new wave of constructions taking place in Ulaanbaatar. They are for the most part world class high rise (well around 15 floors) condominiums such as the Regency Residence being currently built next to the children’s park. Some developments are also coming up outside of the city to the south such as the Four Seasons Garden. The buildings being planned and built at the moment such as The Olympic Residence and the MITIC towers would not look out of place in any other capital in the first world. It is then that Ulaanbaatar will have caught up in terms of luxury to Tokyo and Seoul.

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