Real Estate Services

Real Estate Services

We believe in providing our clients with complete peace of mind when it comes to their investments in Mongolia, we understand that it is a leap of faith to invest in a country such as Mongolia, far away from your base of operations with complicated communications and a challenging legal environment. We have thus tailored our services to meet your every need while putting you at ease that your capital is as well invested as we know how.

M.A.D. maintains a selection of some of the most exciting real estate offerings in Ulaanbaatar and in Mongolia. We always want to make sure that you have the right premises to live and work in Ulaanbaatar.

rental assistance We thus provide a comprehensive Rental & Sales service that matches the needs and requirements of our clients and only deal in those properties that we believe offer both a good value but also which are in a desirable location. Due to the heavy traffic conditions in Ulaanbaatar, we strongly believe in the city centre and thus concentrate on this area to the detriment of Zaisan and the far reaching suburbs of Ulaanbaatar. Our services includes the initial marketing of the property on both our website as well as other medias in Ulaanbaatar and then once a client is sourced, we negotiate terms on the landlord’s behalf, prepare a comprehensive lease document, verify the inventory, provide a welcome folder and finally we will assist in registering the lease with the city authorities to facilitate income tax payments.

Marketing of the Property

Term Negotiation

Contract Preparation

Inventory Verification

Welcome Folder

Lease Registration

*Does not include rent collection or inventory preparation.

We specialise in providing short-stay apartments for leisure and business travellers who want more from their stay in Ulaanbaatar.

due diligence Our clients enjoy spacious, comfortable, well-managed accommodation in some of Ulaanbaatar’s most desirable locations, at a discount on equivalent hotel rates. We like to think of them as 'part home, part hotel', with the benefits of both. They are an ideal alternative to the high-priced, small-sized rooms offered by many Ulaanbaatar hotels.
You can stay for a week or a number of months. Our apartments are well-appointed, with kitchens, modern bathrooms and a full range of amenities to suit the most demanding of travellers. All our apartments are purpose-designed and renovated by our own team of experts so that they all meet the same standards and quality as well as offer the same level of amenities. Most of the properties are owned directly by M.A.D. but we also act as agents to other landlords.
We are one of the only on-the-ground specialists in serviced apartments based in Ulaanbaatar, Mongolia, We have a full portfolio of properties offering everything from spacious studios up to elegant four bedroom apartments in some of the capital's finest locations.

Buying property in an unknown market such as Mongolia can be scary but the process is surprisingly straight forward. Mongolia’s property laws are surprisingly good and its purchasing and sales process is equally simple and straightforward. Never-the-less, attention must be paid to make sure that the process is followed accurately and that all the ownership checks are carried out properly.

transaction assistance Through years of expertise in the market. M.A.D. has developed a system of due diligence to quickly and efficiently carry out a variety of checks on ownership of real estate immovable property within Mongolia. This includes verifying ownership through the immovable property office, checking that all taxes and fees have been paid on the property as well as checking with banks and pawn shops that the property has not been pledged in collateral to any other institution. Once all checks have been completed, a M.A.D. property specialist will accompany the client to the notary for the signature of the contract, to the Ulaanbaatar city bank for payment of the 2% stamp duty and finally to the immovable property office to submit requests for a change of ownership certificate. Our service includes filling in all the forms, explaining the process in details, translations of documents and final retrieval of the new property certificates as well as the new property ownership registration at the district offices.

Origination and Sourcing

Contract Preparation and Notary Assistance

Due Diligence on Property

Payment Assistance


Property Ownership Registration

*This Service is provided as a flat fee on transactions up to 500,000 USD.

Carrying out due diligence is the most complicated and often overlooked part of the investment process. It is also the most essential. Through our extensive network within the public sector as well as in the private field, we are able to verify permits, signatures, assumptions and certificates to make all is as it should be. We also carry out due diligence on business entities as well as their track record. We aim to provide our clients with the information to allow them to do a conscious and calculated decision regarding their investments.

due diligence Through years of expertise in the market. M.A.D. has developed a system of due diligence to quickly and efficiently carry out a variety of checks on ownership of real estate (immovable property) within Mongolia. This includes verifying ownership through the immovable property office, checking that all taxes and fees have been paid on the property as well as checking with banks and pawn shops that the property has not been pledged in collateral to any other institution.

Immoveable Property Title Check

Land Ownership Title Check

Utilities Payment Verification

License Check

Lease Agreement Verification

Permits Check

*The completion of this service relies on the co-operation of the landlord/tenant.

Upon purchase of a property in Ulaanbaatar, it is often essential to carry out renovations in order to be better able to maximise its potential. Renovating property, whether commercial or residential, can be a challenge for anyone who does not have the right connections and people with the construction industry. Renovating a property is often considerably more challenging than simply applying a new coat of paint. Most renovations involve structural changes to the property as well as extensive pluming and electrical upgrades. This necessitates a number of various subcontractors as well as possibly permits. After many years of seeking for the perfect renovation and construction team, M.A.D. has finally managed to put together a team that is professional, honest, does good quality work and completes on time.

renovation M.A.D. can undertake the full renovation of either commercial or residential real estate in Ulaanbaatar, whether just new wallpaper is necessary or a reconstruction, whether you want individual re-buildings or cost-saving cosmetic repairs. The M.A.D. full renovation service  includes the organisation of all necessary subcontractors as well as the obtainment of all relevant permits. Furthermore, the service includes full reporting and documentation of all construction work. Should our clients already have a construction crew in Mongolia and merely require regular updates and reporting on construction progress, M.A.D. has devised a weekly reporting format and system perfectly adapted to renovation and construction processes. M.A.D.’s renovation progress reports will be sent by email regularly allowing the client to view current progress and upcoming tasks.

Construction & Management

Permits & Authorisation

Contractor Management

Demolition & Rubbish Removal

Furnishing & Fittings

Internet/Alarm/Fire Safety

*All cost will be invoiced separately.

M.A.D. Property Management is all about making sure that both your tenant and your property remain happy and in excellent condition. As a growing number of foreign investors into the Mongolian Property market do not actually reside in Ulaanbaatar, they often need a reliable company on the ground to take care of the mundane tasks associated with managing a property in Mongolia that prove to be essential for their investments to make sense and their tenants to remain satisfied.

property management M.A.D. provides foreign property owners in Ulaanbaatar with a comprehensive set of property management service that can be entirely tailor made to meet the needs of our clients. Every quarter, M.A.D. sends our clients a detailed property management report that gives the clients a good opportunity to keep an eye on the state of affairs of their Ulaanbaatar property. This report contains all relevant information about both the landlords and tenants, the time remaining on the lease, recent data about property condition, recommended actions as well as all finances (revenues and expenditure) relevant to the property.

While we are able to provide additional traditional property management services such as rent collection or advertising your property to a wide variety of medium, we feel that those services are becoming less and less essential as landlords are able to achieve those services by themselves. We thus concentrate on those services that are harder to achieve from abroad and add real value to your property.

Utility Payment

Emergency Repairs

Tenant Emergency Contact

Holiday/Empty Unit Weekly Verifications

Landlord Point of Contact

Conflict Resolution

*The property management services is exclusive of all costs that may be associated with the services such as salaries for cleaners, repairs, plumbing or electrical work, purchases of equipment, administrative fees, cost of utilities and furthermore does not include rent collection. Such services are charged separately, please see the table below or contact us for more information.

As the Mongolian Property market is becoming gradually more mature, it is increasingly important to be able to independently value real estate assets in Mongolia.

property valuation While it is well known that the real value of a real estate asset is what people are willing to pay for it, it is always useful to be able to have the value of such assets independently verified and assessed. With over 15 years of combined experience in the field of property in Ulaanbaatar, we are able to provide an accurate valuation of either the rental or sales worth of a property. Our team is well experienced in carrying out valuation services for some of the largest global real estate companies and has rapidly become one of the most respected valuators in the country.

Desktop Valuation

Income Based Valuation

Site Visits

Comparable Transactions

It is never easy to arrive in a brand new country such as Mongolia, it is often an unknown environment where you will not only be challenged at work but also in your every day life. As the city of Ulaanbaatar is slowly developing its infrastructure, new hotels and serviced apartments are starting to appear but this still very much an undeveloped market. It is rarely a viable option to stay in a hotel for any period of time longer than a month, while it may take a while to arrange an apartment, even if for a short stay.

Relocation M.A.D. has established firm relationships with both private landlords as well as corporate entities who manage short term service apartments in order to build one of the most comprehensive database of serviced apartments within Ulaanbaatar. Those apartments are usually available for rent from a week to several months. They are located across the city within residential buildings and range from studio apartments to 4 bedroom apartments.

M.A.D. is able to provide a comprehensive and above all time saving home search program for corporate companies and their assignees as well as individuals relocating independently to Ulaanbaatar as well as the rest of Mongolia.

M.A.D. will begin the home search process while you are still in your home country, we will initially email you our Ulaanbaatar housing questionnaire for your completion. This allows us to begin to understand what your requirements may be and what you may or may not know about living in Mongolia. On receipt of the completed questionnaire, you will be assigned one of our expert relocation specialist, he or she will be a western expat that has lived in Ulaanbaatar for a long time and is very familiar with the real estate market of Ulaanbaatar.

You will both discuss by email your specific requirements and expectations, this will help us determine what are the best possible locations for you within Ulaanbaatar. We will also provide you with a comprehensive overview of the Ulaanbaatar housing market, this will include detailed property examples that may be available within the price range and locations required, this should help you get a better understanding of what you can expect before you arrive.

Once we have established your exact needs and requirements, the M.A.D. team will then carry out an extensive search of the Ulaanbaatar property market, this will be done in partnership with the best real estate agents on the ground. A week before your arrival, M.A.D. will send you a full and detailed itinerary of your proposed initial property visit, this file will contain information about each property that we plan to show you as well as general information about the area in which the properties are located.

Once you have received and reviewed the file, we will discuss it together and make sure that you are happy with the planned program, once it is all set, we will start contacting the landlords and real estate agents to make the appointments. Our local knowledge of Ulaanbaatar enables us to provide our clients with invaluable advice on suitable areas and local amenities. We will tailor our services to your needs, making your moving experience as enjoyable as possible. We follow stringent home search processes to ensure that you constantly receive the best service and quality.

Serviced Apartments

Home Search

City Orientation Tour

Investing in an emerging market such as Mongolia can be an exciting venture but it is never the less fraught with danger, we specialised in providing clear and unbiased information dedicated to our clients. There is no such thing as perfect knowledge but through our market research we will try to get you as much information as is possible to gather. Our specialist team of researchers looks at every possible aspect of the target market and prepare a detailed macro as well as micro market research document. Our market research are always conducted by the partners of the firm and the research is done on the ground using every means available.

property research Prior to any investment, a competitive analysis of your chosen industry is essential, M.A.D. has already acquired considerable industry knowledge in a number of fields such as Medical, Financial Services, Construction, Real Estate, Fire Safety and is able to carry out in depth research in many other market segments. We offer a range of comprehensive general and specific market studies that includes industry, economy and political risks as well as key competitor analysis. All our market studies are tailor made to the specific needs and requirements of our clients.

Once an investment opportunity has been identified, how can it be made to work? How should the funds be invested, what are the expected returns and what exactly is the best way of those returns in maximum safety.

We construct and adapt business plans to look at every scenario and every eventuality, we work closely with our clients and our networks to produce the most complete and professional business plans we know how. All our business plans are created by our team of professional researchers who go in-depth in the subject matter and produce a unique analysis of the business potential, its strength, weaknesses, opportunities and threats.

Our business plans are constant works in progress that are not only useful in starting up a business by providing a framework but that can be updated regularly to take into account changing variables.

While the idea might be good, is it feasible? What are the barriers to entry? Have you considered all the variables? What about government regulations and licensing?

M.A.D. carries out full feasibility studies on all projects, the information we provide in those studies is always unbiased and covers not only the micro elements of the projects but also the macro elements of the environment of the projects. M.A.D.’s team looks at all aspects that might affect the business including the prevalence of corruption and the political importance of competing businesses as well as general industry and country risks.

In-Depth Market Research/Analysis

Feasability & Best Use Studies

Local Environment Advisory

Property Investment Financial Modeling

M.A.D. Investment Solutions is delighted to announce the launch of the 2013 Mongolian Real Estate Report, focused exclusively on unlocking the full investment potential of the dynamic Mongolian Property Market.

property research The Mongolian Real Estate Report 2013 is the second edition of the first truly comprehensive, unbiased, in-depth market report on Mongolia’s Property market. Based on over 7,000 transaction records, it sheds a powerful light of the true state of Ulaanbaatar property market, sector by sector and asset class by asset class. The report also explores a wide number of 2nd tier cities and uncovers the best investment opportunities of the moment. Beyond simply portraying vast amounts of data in a concise manner, the Mongolian Property Report 2013 includes in-depth analysis and interpretation of the market by dedicated and seasoned real estate specialists based in Mongolia which allows investors to truly understand the scope, challenges and opportunities in an otherwise opaque and complicated market.

In addition to which, the report contains all the essential information needed by investors to make an effective play on the market, with its detailed how-to guides, its extensive directories and its sample agreement, the report is an essential tool for any investor looking at the Mongolian Property Market, regardless of size and scope.

M.A.D. excels at communication and regular reporting with our clients to help them keep their Mongolia projects both on time and on budget. Who to trust? What is the standard operating procedure? What is possible? What are the time-lines? What are the pitfalls to watch out for and understand? What part does corruption play in all of this? Are those the real costs or are they inflated for foreigners?

consulting Our dedicated team can help you get your projects done with our discipline of planning, organisation, and know how to achieve an effective management of your resources. We follow contemporary project management procedures and provide a turn key service from the initiation of the project to planning or development, production or execution, monitoring and controlling up to the project closing procedures.

The primary challenge of project management in Mongolia as everywhere else is to achieve all of the project goals and objectives while honouring the preconceived project constraints.Typical constraints are scope, time, and budget.The secondary—and more ambitious—challenge is to optimise the allocation and integration of inputs necessary to meet pre-defined objectives.

A number of clients invest in projects in Mongolia with a specific time frame or goal in mind. M.A.D. can assist the management of those projects, depending on the nature of the project, M.A.D. can take a larger or smaller hands-on position. M.A.D. will take an independent and unbiased view point on the project, regular reporting will be arranged with the clients as well as provide clients with an ongoing feedback on their projects. On completion of the project a full project completion report will be sent to clients.

special projects Investing in Mongolia is only the first step in the investment procedure. M.A.D. helps its clients manage the performance of their investments through constant monitoring and feedback reporting. For those of our clients who don’t maintain a permanent presence in Mongolia, we also serve as a point of contact for emergencies as well as sometimes being their corporate representatives within Ulaanbaatar. All our portfolio monitoring solutions are custom made with the client’s specific circumstances in mind.

We believe in applying a fair and transparent fee structure to our clients, we thus charge flat fees on most of our services and never take an “additional” fee from the sellers or the other party without telling our clients about it. If you have any questions about our fee structure please feel free to get in touch with us at any time.

Service Includes Price Notes
Rental Assistance Marketing of the Property, Term Negotiation, Contract Preparation, Inventory Verification, Welcome Folder, Lease Registration. 250 USD + 7% of total lease amount Does not include rent collection, inventory preparation, property management and cleaning.
Purchasing Assistance For Standard Immoveable Property Transactions Only - Origination and Sourcing, Contract Preparation and Notary Assistance, Due Diligence on Property, Payment Assistance, Negotiations, Property Ownership Registration. 5,000 USD / Unit This Service is provided as a flat fee on transactions up to 250,000 USD.
Due Diligence Immoveable Property Title Check, Land Ownership Title Check, Utilities Payment Verification, License Check, Lease Agreement Verification, Permits Check. 500 USD to 4,000 USD / per unit The completion of this service relies on the co-operation of the landlord/tenant.
Renovation & Construction Management Construction & Management, Permits & Authorization, Contractor Management, Demolition & Rubbish Removal, Furnishing & Fittings, Internet/Alarm/Fire Safety. 7,000 USD / Unit All cost will be invoiced separately.
Property Management Utility Payment, Emergency Repairs, Tenant Emergency Contact, Holiday/Empty Unit Weekly Verifications, Landlord Point of Contact, Conflict Resolution. 75 USD / Month / Unit Does not include rent collection or inventory preparation and extra cost will be invoiced separately with a services premium (see below).
Repairs and Equipment Purchases for Residential Units under M.A.D. Management Organization, supply, installation and supervision of all purchases as well as management of external contractors. 15% on purchases, 25% on labour If reimbursement is done to M.A.D. for purchasing or labour, a 10% additional fee is applicable on the full amount to cover the cost of taxes and accounting.
Power of Attorney Preparation Preparation and Signature of a Notarized Power of Attorney to M.A.D. for purchasing, managing or selling of property in Mongolia 150 USD / Unit The Power of Attorney is valid for one year and a new fee will be levied on its renewal. The fee does not include the cost of the Notary (~50USD).
Acquisition of a Mongolian Income Tax Book Document Preparation, submission to the tax department, pick up of the tax book and its subsequent registration. 150 USD / Unit M.A.D. will organize and prepare all documents necessary to obtain a Mongolian Income Tax Book, the fee does not include the payment of actual taxes, merely the issuance of the tax book itself.
Valuation Services Desktop Valuation, Income Based Valuation, Site Visits, Comparable Transactions. 5,000 USD to 25,000 USD
Destination Services (Relocation) Home Finding, Orientation Tour. Prices on Application
Investment research In-Depth Market Research/Analysis, Feasibility & Best Use Studies, Local Environment Advisory, Property Investment Financial Modeling. Prices on Application
Property Report 650 pages PDF version. FREE
Consulting and Advisory 350 USD / Hour

*Please note that a 10% VAT fee is applicable on ALL of the above fees. A VAT Invoice will be issued upon request.

*All prices are quoted in USD for ease of understanding of our customers but will be charged in MNT (Mongolian National Togrog) at the prevailing rate of the day of the Mongol Bank for invoices issued to Mongolian entities as required by Mongolian law. If invoiced to entities outside of Mongolia, the prices will be quoted in USD.

*Please note that the above prices are quoted for indicative purposes only and are accurate as of September 2012. They are liable to change at any time, please contact us for a final confirmation of prices and services.

Real Estate Mongolia

M.A.D Investment Solutions Office

Sukhbaatar District, 4th Khoroo
Building no 67, Unit 1&2.
Ulaanbaatar, Mongolia

Tel: +976 11 312 500 (Office)
Tel: +976 95 853 377 (English)
Tel: +976 99 770 439 (Mongolian)
Email :

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