Ulaanbaatar
Housing price index in Ulaanbaatar as of August
EconomyUlaanbaatar /MONTSAME/ The housing price index (HPI) research from August of 2016 shows the general index of housing price was at 1.5 percent. It shows no change compared with the previous month. The general index dropped by 3.8% compared to the starting period, and by 9.2% compared to the same month of the previous year. Below are the Price index indicators classified by new and old housing.
The new house price index was at 14.1 percent. This shows a decline by 0.7 percent compared to the previous month. The index dropped by 4.2% compared to an earlier period of this year, and by 7.1% compared to the same month in previous year.
The old house price index was at 7.1 percent. This shows a decline by 0.07 percent compared to the previous month. The index dropped by 5.7% compared to the earlier period of this year, and by 11.9 % compared to the same month in previous year.
HPI was calculated by applying Hedonic regression methods and the calculation was based on the information available for 4908 old and new houses supplied for sale at the real estate market of Ulaanbaatar for the particular month.
The HPI research was conducted independently by Tenkhleg Zuuch LLC at the request of Mongol Bank.
