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Mongolia provides about 6,500 housing mortgages www.xinhuanet.com
Mongolia has provided housing mortgages to 6,469 borrowers since the beginning of this year, the country's Ministry of Construction and Urban Development said on Monday.
Over 80 percent of the housing mortgages were provided to residents in the capital city of Ulan Bator, which is home to over half of the country's 3.4 million population, the ministry said in a statement.
The Mongolian government started implementing a mortgage loan program in 2013 to increase the affordability and accessibility of apartments for urban residents, particularly young families and those living in ger districts.
Since then, a total of 109,800 borrowers have benefited from the housing program, according to the ministry.
Housing is one of the most pressing issues in Mongolia, especially in Ulan Bator. More than half of the capital's population live in the city's ger districts, with no running water, central heating or sewerage systems.
Published Date:2022-11-15
