Mongolia is to define Long-Term Housing Policy

A meeting was held between Mr. Tilasone Benjamin Musuku, Senior Financial Specialist of the World Bank, and members of Mongolia’s National Housing Committee to discuss the country’s long-term housing finance policy.

During the meeting, Mr. Tilasone Benjamin Musuku highlighted key challenges in Mongolia’s housing sector, including the lack of systemic coordination, high housing prices, and the mismatch between housing costs and citizens’ purchasing power.

The Government of Mongolia and the National Housing Committee identified the urgent need to provide affordable housing solutions for priority groups such as first-time homebuyers, young families, people with disabilities, families with multiple children, and citizens relocating from the capital to rural areas.

Discussions focused on defining target groups more precisely, increasing the availability and sources of mortgage financing, and designing a sustainable long-term funding model. The meeting also emphasized the importance of aligning housing policy with regional development strategies, improving mortgage accessibility, and formulating a comprehensive, long-term, and effective national housing strategy.