Sales of houses and real estate were dropped by 90%

We are experiencing a slowdown in the economic financial sector as well others sectors especially in the housing sector. Sales of houses and real estate have slumped by 90% and prices fell 20-30% on average, a report shows. Government is implementing a housing project which will provide accommodation for 40’000 but constructions workers are worried because of the sharp fall in demand of houses in the housing market. A seminar aimed at construction workers was held. Government and Bank of Mongolia had provided speech about the policies and measures they will take during this difficult time. The topic of the seminar was ‘resources management during recession’. Representatives of HR institution of Mongolia, Bank of Mongolia, Golomt bank and ministry of road, transport and construction took part in the seminar and exchanged their views and opinions on given policies.

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