ULAN BATOR, May 17 (Xinhua) -- The average price per square meter of newly constructed apartments in Mongolia's capital reached 3.2 million Mongolian Tugriks (1,028 U.S. dollars) at the end of April, up 19.7 percent year on year, data released by the country's National Statistics Office (NSO) showed Tuesday.
Meanwhile, the average price per square meter of an old apartment in Ulan Bator stood at 3.01 million Mongolian Tugriks (967.5 U.S. dollars) at the end of last month, up 25.5 percent from the same period last year, the NSO said.
The significant increase is largely related to the spike in freight rates due to border restrictions caused by the COVID-19 pandemic, and the ongoing Russia-Ukraine conflict, according to NSO experts.
Housing is one of the most pressing issues in Mongolia, especially in the capital city, home to over half of the country's population of 3.4 million. More than half of Ulan Bator's residents live in the city's ger districts, with no running water, central heating or sewerage systems. ■