Local colour - that's all. You can watch the locals fighting while sitting on your veranda sipping a nice cool glass of fermented Yak's milk.
And of course there's this hellhole.
Ginetta Vedrickas did an editorial piece on the site for us some time ago on Mongolia, might be worth a read if you're into long distance investments and looking for some info on Mongolia. You'll find it [broken link removed].
The objective of the site, in so far as is possible, is to inform and educate those looking at buying overseas. Whether they actually buy anything or not is irrelevant to us, but is obviously relevant to those with property on our site.
Economic activity in Mongolia has traditionally been based on herding and agriculture...
Severe winters and summer droughts in 2000-02 resulted in massive livestock die-off and zero or negative GDP growth. This was compounded by falling prices for Mongolia's primary sector exports and widespread opposition to privatization. Growth was 10.6% in 2004, 5.5% in 2005, 7.5% in 2006, and 9.9% in 2007 largely because of high copper prices and new gold production. Mongolia is experiencing its highest inflation rate in over a decade as consumer prices in 2007 rose 15%, largely because of increased fuel and food costs. Mongolia's economy continues to be heavily influenced by its neighbors. For example, Mongolia purchases 95% of its petroleum products and a substantial amount of electric power from Russia, leaving it vulnerable to price increases.
Mongolia is so much tied into the whole explosion within the commodity markets. Within this bull that is likely to last no more than five years, any such investment would be both dangerous and foolhardy. The Bull Run within precious metals began in 1998 and it lasts typically only about fifteen years. But a shortage of land is an understatement. Ulaanbaatar is surrounded by 1000's of miles of wilderness and mountains, so this unfortunately couldn't be further from the truth.According to Asia weekly, a business week style magazine, the capital city of Mongolia is a serious hotspot right now. Appreciation is rising "exponentially" and rental yields are also extremely attractive. Apparently in the capital development land is very scarce and thus is driving up the prices.
As the saying goes "there's a fool born everyday" despite information telling them from all angles to the contrary. With the credit crunch the OPI appetite must be fairly dead. Its money came from credit and this tap is now switched off. So although there are people who have the desire to buy, they no longer have the means to buy.The worst thing is, there are obviously people out there who take any sort of guff at face value.
Mongolia is so much tied into the whole explosion within the commodity markets. Within this bull that is likely to last no more than five years, any such investment would be both dangerous and foolhardy. The Bull Run within precious metals began in 1998 and it lasts typically only about fifteen years. But a shortage of land is an understatement. Ulaanbaatar is surrounded by 1000's of miles of wilderness and mountains, so this unfortunately couldn't be further from the truth.
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Shanghai dealing with a number of commercial companies who wont deal with real estate unless they think their clients will make 50% selling 6 months bottom line. That is what they expect. Its a different world, and political problems unrest, social problems, poverty etc often does not effect the real estate market in the slightest.
My business deals a lot with China and Shanghai in particular. You will find the rules on property for foreign ownership have changed. Not a place to invest IMO as it's freehold rented by the State in most cases. A state about as trustworthy to foreigners as Mugababe.
[broken link removed]
Even if you buy property and use loopholes, the rules are constantly changing between central government and local government