Price of houses and real estates to rise

Dec 17 • Economy, Real Estate • 425 Views • No Comments on Price of houses and real estates to rise

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Real estate agents are predicting price increases in houses and real estates. State Great Khural approved that 455.1 billion ($362 million) will be deposited at commercial banks; they are also in talks of injecting commercial banks to stabilize the banking system in Mongolia. This is directly related to the demand for houses and real estate’s as these money will flow around and will be distributed to the public as form of a loan.

Commercial banks started giving housing loans recently and this number is high likely to rise as a result of the injection into the commercial banks. Real estate agent OSMO LLC’s specialists believe the price of houses and real estates will increase after the injection is approved and they predict it will be soon after the New Year. Mongolia’s economy can be boosted by such injection and it can help Mongolia to avoid getting infected by the worldwide recession. On the other hand this is bad news for the Ministry of Finance as Mongolian economy has already experienced over 30% of inflation this year. This argument goes on…

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