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The chaos theory of Mongolia

I returned to Mongolia 15 years ago after an absence of 13 years, save for the occasional 2-week leave from work, and that time I spent a semester and a half at a local university drinking endless cups of brown, watery 150 Tugrik instant MaCcoffee at the cafĂ© strangely, or perhaps egotistically, named "In my memory", writing the first and so far the only book that got us into trouble with the local intelligence who apparently had little else to do than to pore through the ramblings of teenagers to catch the tell-tale signs of drug dealery. But I digress. When you visit a country for a short period, be it home or not, you hardly have time to immerse yourself in the spirit of the country and the city and feel the nitty gritty and dirty shiny of it all. So after 13 years, it took me a while to readjust and finally understand what the hometown of my childhood had become.  The most striking, ubiquitous, and inescapable feature was and still, unfortunately, is the traffic. In 2008,...

Rich Brits Invade the Mongolian Real Estate Market

Hmm... perhaps I should make my way back home soon, before property prices soar. Sad will be the day when I will be forced to rent a flat in Mongolia from a British landlord.

Most people’s idea of Mongolia’s property market might be felt-covered yurts on the steppe. But now the remote Asian country has turned into the latest unlikely magnet for cash-rich British homebuyers in search of a new booming frontier.

They have been snapping up flats in Ulan Bator, the capital, to rent out to expat businessmen in the hope that their investment will appreciate by at least 20% a year
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