And now, Mongolia!!

Ok, I know what you are thinking, Mongolia, don't they live in Yurts and ride horses? Well, yes, but also they happen to be riding high on a boom caused by the wealth of mineral reserves found to be in the country.

By Mike Stock

There are reported to be 125 billion metric tons of coal, not to mention the largest untapped source copper and gold in the world. With this in mind, it's no surprise that companies such as Rio Tinto are already here.

So, untapped reserves and a very large neighbour, namely China, who are desperate to purchase the minerals, has led to one of the highest GDP growth rates in the world.
With a thriving mining sector and low population, Mongolia is poised to see economic development similar to that experienced by the oil-rich Middle Eastern countries.
Where you have large companies moving in, you will have a demand for property, either to rent or buy. Within the past few years, prices per square metre have risen by somewhere between 18 - 27%. Ulaanbaatar, the capital is now riding the crest of a wave that looks set to continue for some time. With low taxes and high yields, the returns are good compared to some of the more known locations.
Only this week, the UK Financial Times ran an article that reported that the London Stock Exchange had agreed a "strategic partnership" with the Mongolian Stock Exchange. The London Stock Exchange is the home to the biggest mining and energy company listings in the world.
The infrastructure of this sparsely populated region is now happening in the form of roads and railways. Mongolia is one of the fastest growing, fully functioning economies in the whole of Asia.

Property for sale

Some luxury developments are reaching high prices. Ulaanbaatar was until recently, a wild frontier town, but is now a thriving city .Due to the low population within the rest of the country, Ulaanbaatar is the centre of the country's economic and industrial growth. 50% of Mongolia's gross domestic product of $1.5 billion and 30% of the country's industrial output are here.
The Olympic Residence, when completed, will be the most luxurious residence in the capital. Located in the Embassy District, the Olympic will overlook the city Central Park.
It will also command breathtaking views of the Boghd Khan mountain range to the south, but also be within walking distance of the most popular cafes and luxury retail stores in Ulaanbaatar.
The development is over 16 floors. The second and third floors will be set aside for office, retail, and restaurants, with floors four upwards to be Apartments, condominiums, duplexes, and penthouse suites.

Prices range from £130,000 to over £650,000, so there are possibilities for everyone here.To find out more, go to http://olympic.mongolia-properties.com