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The Government will continue the 8% mortgage program www.mongolia.gogo.mn
Today Minister of Construction and Urban Planning G.Munkhbayar held meeting with representatives of construction companies and non-governmental organizations.
Currently, 7000 companies hold licenses in construction sector. Out of 1400 licenses, issued by Construction Development Center, have not commenced the construction. Therefore, licenses will be issued through online service in further.
Minister G.Munkhbayar noted:
"Construction companies must build school and kindergarten in accordance with their social responsibility. National commission will receive towns with school and kindergarten in further.
8% mortgage program is expected to be continued in Ulaanbaatar city. Also, the mortgage loan interest will be reduced to 5% for local residents. In regards, the Government established working group in cooperation with Bank of Mongolia.
In addition, we are seeking opportunity to expand the apartment size from 80 sq. m to 100 sq. m while we are following a policy to lower monthly payment of mortgage loan".
Published Date:2016-09-01
