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Good Morning! Have you ever wondered how wealthy the man who conquered the world, from the Pacific Ocean to the Danube River and the Persian Gulf, might have been? Adjusted for today’s value, Chinggis Khan’s fortune is estimated at around $100 trillion, making him roughly 140 times richer than Elon Musk, the world’s richest person today. Crazy, isn’t it!

What’s inside today’s edition…

• 💰 Bank of Mongolia Raises Key Limits

• 🕯️ Mongolia’s Darkest Chapter

• 🏠 Apartment Prices Skyrocket, Youth Struggle

No Time to Waste. Let’s Get Started! 🦘

MARKET

JPN: Japan to provide Mongolia with grant assistance of up to ¥500 million to supply equipment that supports the reliability of the country’s power grid.

BOM: The Bank of Mongolia has decided to raise the maximum debt-to-income ratio for new and modified consumer loans to 45%, and to increase banks’ required reserve ratios by one percentage point to 14% for MNT deposits and 19% for foreign currency deposits.

MNG: Former Energy Minister N.Tavinbekh is under investigation by the Anti-Corruption Authority for allegedly abusing his position in a $9 million consulting contract for a $148.7 million thermal power plant project in 10 provinces, including extending the contract and unjustifiably increasing the budget by $2.6 million.

😓 A History That Must Never Be Forgotten Nor Repeated!

Mongolian artist ThunderZ’s newly dropped “Tengri: Gegeen” MV is making waves in Mongolia. This MV showcases one of the darkest times in Mongolian history, “The Great Repression.”

• 🎥 The MV illustrates a tragic love story between a Buddhist monk and a woman at a time when monks were forbidden from loving or forming families. Their attempt to escape ends in horror. The monk is captured and burned alive. Tragically, this was the harsh reality in Mongolia from 1920-1990, when the state became a killing machine against its own people.

🙅‍♂️ Mongolia: A Death Penalty-Free Country

For context, Mongolia abolished the death penalty in 2012, becoming a capital punishment-free country, a hard-learned lesson from The Great Repression. Under decades of Soviet influence, the government carried out mass arrests, executions, and imprisonments of perceived “enemies of the state,” killing over 37,000 people, including monks, politicians, military officers, and ordinary citizens, a devastating loss for a population of just 800,000. The repression was especially brutal toward the Buddhist clergy.

• Over 700 monasteries were destroyed

• More than 17,000 monks were persecuted

• Around 14,000 monks were executed

In total, 10.9% of Mongolia’s adult male population and nearly 5% of the entire population were affected.

👇 Day of Remembrance: Victims of Political Repression

Since the creation of the memorial in front of the National Museum of Mongolia in 1997, September 10 has been observed as the Day of Remembrance for the victims of political repression. The day serves as a national moment of reflection, honoring those who lost their lives during one of Mongolia’s darkest chapters and acknowledging the families who continue to carry forward their legacy.

✍️ Words Carved in Memory

Inscribed at the base of the monument:

• In those years, burning faith was crushed,

• And brave hearts were torn apart.

• May the years of terror and despair

• Never fade from the memory of the Mongolian people.

On the inner wall of the monument, “No to the death penalty” is carved. Even today, Mongolians debate restoring the death penalty for serious crimes. But the memorial stands as a commitment that the government will never again turn into a killing machine against its own people, affirming Mongolia’s pledge to uphold human rights and human dignity.    

⭐ Selected for you

ECONOMY & BUSINESS

• The Ministry of Economy and Development Officially Inaugurated the Investor Rights Protection Center. (LemonPress)

• Mongolia will Begin Domestic Production of Cathode Copper in 2028. (LemonPress)

• Male Cattle Prices Reach Highest at Average of ₮2.6 Million. (UBPost)

POLITICS

• Mongolia and Kazakhstan to Cooperate on Livestock Vaccine Factory. (ANN) 

• Mongolia’s Disaster-Management Plan Revised and Approved. (TheStar)

• Ex-Prime Minister Batbold: From Politics to Private Business. (news.mn)

• Lack of Control Over Personal Data in State E-Systems. (UBPost)

• Mongolia and China Held a Round Table to Discuss Trade and Investment Cooperation. (GOV)

CULTURE & LIFESTYLE

• This New Hotel in Mongolia Is a Luxurious Take on a Spiritual Retreat. (RR) 

• Extreme Wintry Weather Hits Mongolia, Affecting Over 9 Provinces. (XinhuaNews)

• Mongolia has Welcomed Over 21,000 Foreign Tourists So Far in 2026. (Montsame)

💔 Apartment Costs Soar, Young Mongolians Struggle to Buy

The dream of owning a home is becoming increasingly distant for young people, with affordability slipping further month by month. Over the past 47 months, the average price per square meter for existing apartments has risen by 72.1%, while new apartments have increased by 63.3%, pushing both above ₮5 million per square meter.

🎩 The Most Expensive Locations

Looking closer at the price differences across six districts of Ulaanbaatar, Sukhbaatar district commands the highest average for new apartments at ₮5.97 million per sqm, while Songinokhairkhan is the lowest at ₮3.4 million per sqm.

💨 Rapid Growth in Chingeltei District

Over the past 47 months, since February 2022, the Chingeltei district has seen the fastest growth in new apartment prices, with a 111.8% increase, 36.5 percentage points above the city average. This reflects the limited new project supply close to the city center.

• 🧗 Relatively Low Growth: On the other hand, Khan-Uul district saw the slowest rise in new apartment prices at 50.8%, influenced by the high supply of new apartments in Yarmag. Meanwhile, the Bayanzurkh district experienced the smallest increase in existing apartment prices. These figures are useful for those scouting locations to buy their first home.

😭 The Harsh Reality

Consider a young, single individual saving for a first apartment. Choosing an average-priced 50 sqm unit at ₮5 million per sqm would cost ₮250 million. With a maximum mortgage of ₮150 million, the individual would need to save ₮100 million. Saving ₮2 million per month would take 50 months or 4.2 years. By then, however, the same apartment could have increased by ₮180 million, totaling ₮430 million.

🌌 Faster Than Light

Apartment prices are rising several times faster than inflation and income growth. This acceleration is driven by factors beyond the usual supply-demand cycle, including the construction sector, urban planning, and mortgage accessibility. A 3-pronged policy addressing job decentralization + infrastructure + housing, alongside targeted financing options for first-time buyers and genuine demand segments, is urgently needed.

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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.