A critical aspect of investing in emerging markets is the need to discriminate between short-term growth fads and sustainable development. As Paul Krugman famously discusses in his article, “The Myth of Asia’s Miracle,” it is often very easy to get caught up in aggregate GDP growth statistics without looking deeper into what is driving those statistics. This can lead to an investing-with-the-herd mentality and the systematic under-appreciation of some of the most interesting and lucrative opportunities across emerging markets.

Mongolia is a fantastic place to invest in property as a foreigner. The regulatory framework on title and property rights, combined with a great tax policy and no exchange controls, make Mongolia one of the best destinations in Asia for property ownership.