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Rental flats to be available for ownership www.montsame.mn
Ulaanbaatar/MONTSAME/. Today’s Cabinet meeting approved a regulation on ownership of rental flats.
According to the regulation, tenants of the apartments of the State Housing Corporation of Mongolia (SHCM) will be able to own the flats they are renting.
In doing so, tenants can own the flats by two ways; they can be involved in the mortgage loan after paying 30 percent of the total payment, or can buy the flat by making equally-divided payment every month for up to five years under the agreement.
“The regulation is coming to effect today. The price of SHCM apartments is set at MNT1.4 million per square meter. Presently, there are 1512 rental flats throughout the country. It is intended to construct apartments for 1008 households with the non-refundable aid of China, besides spending USD500 million -worth investment of the Republic of Korea on constructing rental apartments,” reported Kh.Badelkhan, Minister of Construction and Urban Development.
Published Date:2019-04-11
