British investors hoping for significant returns are purchasing properties in Mongolia at record levels. 

Looking to cash in on Mongolia’s mining boom, British investors are purchasing apartments with the intent of renting them to executives doing business in the country. 

Investors have turned to Mongolia because the return on investment in British property is modest and many are looking to countries with newly evolving economies. 

Typical of the speculation occurring, a 52-apartment building in Ulaanbaatur recently sold all of its units though it has not yet been built. The majority of apartments were purchased by British speculators. The average apartment sold for $148,000. 

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