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In Mongolia, simplified conditions for foreigners buying property

11.11.2013
Homesoverseas.ru editorial office
569
The new law, which came into force on 1 November 2013, is designed to increase confidence in the real estate market of Mongolia and facilitate foreign investment process in the residential and commercial real estate in the country, reported the online source OPP Connect . Now foreigners can not get the government approval of the transactions by investment in strategic sectors. Depending on the amount of investment and the location of the property to the buyer will be given a period of stable tax for a period of 5 to 22.5 years. Since 2007, the maximum interest in Mongolian real estate market showing British citizens. According to local real estate market professionals, investors who bought a house in Ulaanbaatar four years ago, the average income received by 24% to 300%. According to statistics, house prices in the Mongolian capital in 2001 increased by eight times. Due to the increasing number of international companies, experts predict a rise in rents in the commercial real estate sector, at least three times over the next five years. HomesOverseas.ru
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