ULAN BATOR, Jan. 18 (Xinhua) -- The average price per square meter of newly constructed apartments in Mongolia's capital amounted to 5.03 million Mongolian Tugriks (1,412 U.S. dollars) at the end of December, up 10.8 percent year on year, the National Statistics Office said Saturday.
Meanwhile, the average price per square meter for second-hand apartments in Ulan Bator was 5.06 million Mongolian Tugriks (1,420 dollars) in December, reflecting a 13.6 percent rise from the same period last year.
According to experts, this significant increase is largely related to an increase in per capita real estate demand.
Mongolia is the world's most sparsely populated country. However, housing is one of the most pressing issues in Mongolia, especially in the capital city, home to over half of the country's population of 3.5 million. More than half of Ulan Bator's residents live in the city's ger districts, with no running water, central heating, or sewerage systems. ■