Common terms and abbreviations in the Mongolian property market.
40,000 Homes
The 40,000 Homes was a residential building programme established by the Mongolian Government at the end of the Soviet era. The development scheme aimed to upgrade ger areas and establish new housing areas with improved housing density.
Immovable Property Ownership Certificate
This certificate is issued by the Immovable Property Registration Office and serves as a proof of ownership. Protected under Mongolian law, this certificate can be sold or even used as collateral with banks.
Aimag
Mongolia is divided into 21 provinces called aimags, which are governed as separate municipalities. Ulaanbaatar is the exception; though it is located in Tuv, one of the 21 aimags, it is governed as an independent provincial municipality.
Düüregs
Ulaanbaatar is divided into nine administrative districts called Düüregs, each with a local governor and support staff. The nine districts are then subdivided into 144 smaller administrative units called khoroo, which also have locally appointed governors and administrative staff. Khoroos comprise smaller units of around 300-500 households called “kheseg”, which do not have formal administrative structures.
Ger
Mongolian ‘gers’ are the traditional tent homes of the country’s nomadic herdsmen. Constructed out of felt and white canvas stretched over a wooden lattice, gers tend to be small single rooms with floor space of around 30 sqm. According to 2014 data from Ulaanbaatar’s Statistics Department, over 58 per cent of the 352,812 households living in Ulaanbaatar reside in a ger. The makeshift ger districts of Ulaanbaatar are divided into small fenced plots of land called khashaas, typically owned by family groups.
Home Owners Association
Upon completion of a building, the owners of the apartments establish a Home Ownership Association, and the underlying land title is transferred to the HOA. The highest governing authority is vested in the Annual General Meetings. Owners have one voting right per apartment. The Home Ownership Association can only be dissolved if the entire building is owned by a single entity or if there is serious irrecoverable damage to the building, which is outlined in the Law on Home Ownership Association and Floating Freehold Title.
Units of measurement
Square metres are used in real estate measurements in Mongolia. Interestingly, one of the traditional Mongolian measures is an ald, which represents the length between a man's outstretched arms or roughly 160 cm.
Local knowledge: Public holidays
The traditional Mongol calendar was developed in the 1700s based on the cycles of the sun and moon. Although this calendar is no longer used in modern Mongolia, some traditional celebrations are still observed.
Tsagaan Sar
Tsagaan Sar, meaning White Moon, is the Mongolian lunar new year celebration. The holiday is observed on the first three days of the lunar year, falls anywhere between the end of January and early March. During this time, Mongols visit with friends and family and exchange gifts in thanks for good fortune. Ritual prayers are performed and houses cleaned. Many families gather together to watch a nationally televised wrestling competition and other horse racing events.
International Women's Day
International Women’s Day is celebrated globally on March 8 and is a national holiday in Mongolia. Various large events are held on this day, though many Mongolians spend the day quietly with family and friends.
Mothers' and Children's Day
This is both an international and national holiday, celebrating children. Local family activities are held across Mongolia on June 1.
Naadam Holiday
Five days are set aside in July for Nadaam, a traditional festival of Mongolian games, colloquially known as "the three games of men". The games are Mongolian wrestling, horse racing, and archery, and despite the name are no longer exclusively played by men: women have started participating in the archery and girls in the horse-racing games, which are traditionally raced by children.
Genghis Khan's birthday
The first day of winter according to the Mongolian lunar calendar is the annual celebration of Genghis Khan's birthday. A parade is held in Ulaanbaatar with dancers in traditional costumes and the state’s highest honour, the Order of Genghis Khan, is awarded to a Mongolian citizen.
Republic Day
November 26 commemorates the creation of the People's Republic of Mongolia with the signing of Mongolia's first constitution in 1924.
Independence Day
December 29 is a national holiday celebrating the day Mongolians declared independence from Chinese rule in 1911.
Source: Mongolian Properties Real Estate Guide 2017
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