Draft Law on National Housing to Be Submitted to the Parliament

2024-05-09 11:25:32

Ulaanbaatar, May 9, 2024 /MONTSAME/. The Law on Mongolia’s Sovereign Wealth Fund dictates the "Savings Fundto distribute the profits from mineral resources to every citizen fairly and equitably in critical areas such as healthcare, education, and housing. To implement this, the Cabinet developed and discussed the draft Law on National Housing during its meeting. The draft Law will be submitted to the State Great Khural next week.

This Law regulates government financial support for housing development activities and establishes a Housing Fund with provisions for its accumulation, management, expenditure, and performance monitoring.

Comprised of six chapters and 21 articles, the Draft Law on National Housing aligns with the Constitution of Mongolia and existing laws. Its enactment will establish a comprehensive framework for housing activity management, promote sustainable funding growth based on market principles, enhance accessibility, and create a legal foundation to support low- and middle-income groups through rental and rent-to-own housing programs.

According to the results of the 2022 Housing Census, out of Mongolia's 941,547 households, 32.1 percent (302,237 households) live in apartments with engineering infrastructure, 29.7 percent (279,639 households) live in houses without complete engineering infrastructure, and 38.2 percent (359,671 households) live in gers.

In Ulaanbaatar, the capital city of Mongolia, a substantial 50.1% of households, amounting to 216,989, reside in ger districts lacking proper infrastructure. This situation contributes to an estimated 75% of the city's air and soil pollution.

With the enactment of this Law, the residents of Ulaanbaatar will live in a healthy and safe environment, work productively, and have improved conditions for learning and development. It also aims at raising the income and living standards of households and providing legal support for housing to those relocating to rural areas.

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