The President announced information about housing prices in the market
At the IV People's Kurultai held in Bishkek at the end of 2025, delegates discussed the issue of housing costs being built by the State Mortgage Company (GIK). At that time, President Sadyr Japarov commented on this matter.
Since the beginning of this year, he has touched upon this topic again, as prices for apartments and houses remain important for the residents of the republic.
In an interview with the state agency "Kabar," the head of state explained how the cost per square meter is formed in the mortgage company.
“We are considering this topic with long-term prospects,” he noted.
Firstly, housing offered through GIK is issued for 25 years without the need for a down payment.
In Bishkek, within the framework of the state program for citizens on the waiting list, the cost of one square meter of housing ranges from 900 to 1,000 US dollars depending on the area, under the "Social," "Preferential," and "Affordable" mortgage categories.
Under the "Social mortgage" (for single mothers, people with disabilities, and guardians) and "Preferential mortgage" (for budget employees, including teachers and doctors), housing is provided at 4% per annum for 25 years without a down payment.
Meanwhile, "Affordable mortgage" (for those working in the private sector) implies an interest rate of 8% per annum for the same term and also without a down payment.
According to the shared construction mechanism, the cost of one square meter varies from 1,000 to 1,400 US dollars, with apartments delivered in a "turnkey" condition.
In the suburbs, prices are lower, while in central areas, the so-called "elite" and "golden square," they are significantly higher.
Housing sold on a shared basis is mainly intended for citizens working abroad. In this case, people do not queue for housing, as they pay 50% of the apartment's cost as a down payment, and the remaining amount is paid in installments over a period of up to 15 years.
Comparing with market prices, in the same areas, the cost per square meter in new unfinished houses (at the foundation stage) can reach 2,000–3,000 US dollars.
At the same time, GIK offers properties in a fully completed form at a more affordable price.
GIK sells housing with a small markup on the cost price; otherwise, the company would not be able to continue construction at the volumes it currently does. Funds received from citizens obtaining apartments both in line and out of turn are directed to support the activities of the State Mortgage Company and allow for the construction of new facilities.
As of the end of 2025, 4,662 families have been provided with housing.
In 2024, this figure was 1,197 families. Currently, 80,245 apartments with a total area of 5.4 million square meters are under construction across the republic.
In 2026, it is planned to put into operation 20,021 apartments, including:
Bishkek — 6,323,
Chui Region — 3,129,
Manas — 3,219,
Issyk-Kul Region — 2,266,
Osh Region — 1,458,
Osh City — 1,454,
Batken Region — 1,420,
Naryn Region — 433,
Talas Region — 319 apartments.
Thus, we are focusing on long-term goals. Within the framework of GIK programs, the task is set to ensure the construction of modern residential buildings with European conditions not only in cities but also in rural areas over the next 10–15 years. This is a historical mission entrusted to the State Mortgage Company. If GIK sold housing exclusively at cost price, it would not be able to fulfill this task in the future.
To date, the company is a large institution with a charter capital of 87.5 billion soms, and in the future, it is planned to increase it to 200 billion soms.
If housing were sold only at cost price, the company would quickly face bankruptcy, considering the 25-year mortgage term, inflation, and minimal profitability. Therefore, the current pricing policy is justified.
In addition, the possibility of creating a separate queue or providing additional benefits for labor migrants is being considered, and the issue of reducing housing costs for people with disabilities will also be studied,” concluded Sadyr Japarov.
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