Deputy of the Jogorku Kenesh Dastan Bekeshev expresses the necessity of implementing state control over prices in the real estate sector of Kyrgyzstan. In his opinion, this will help curb the rise in housing prices and slow down inflation. Illustrative photo According to the parliamentarian, such measures are necessary as the construction of affordable housing and the expropriation of residential properties do not lead to a decrease in prices. The increase in housing costs also affects the rise in rental prices and exacerbates inflationary processes.
The main reason for the current situation, Bekeshev believes, is the rise in prices for construction materials, high demand for housing, and a lack of alternatives for investments.
“Real estate in the country is the most profitable investment. As soon as people have spare funds, they invest them in concrete,” he noted.
Bekeshev also touched upon the issue of foreign capital. He believes that the influence of foreign investors on the housing market is exaggerated and suggests tightening the conditions for their participation.
Among the proposals are an increase in property taxes for foreign citizens, a ban on the purchase of secondary housing, and the introduction of additional fees when acquiring multiple properties.
To stabilize the market and reduce prices, the deputy proposes implementing the following measures:
introduction of an "anti-flip" tax — an additional fee for the quick resale of real estate aimed at combating speculation;
transition of all transactions, especially in the primary market, to cashless forms through banks, excluding unnecessary commissions;
state regulation that will control prices for certain types of construction materials;
taxation of vacant residential properties.
Dastan Bekeshev acknowledges that the proposed measures may cause discontent among property owners, but emphasizes that in the end, all citizens of Kyrgyzstan suffer from the overheating of the market and high prices.
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