He touched on the topic of housing prices offered by the State Mortgage Company, noting that many consider them too high, despite the fact that land for construction is provided for free.
“In reality, this is not a high price. In 2021-2022, I met with representatives of private construction companies and proposed building houses at a price of $600 to $700 per square meter, but they refused, stating that they would build for $1,000. As a result, the state company 'Kyrgyzstroyservice' was created, which today builds at $700 per square meter and hands over completed facilities to the State Mortgage Company. In the regions, the price is $750, as construction materials need to be delivered there,” the president explained.
He also reported that the State Mortgage Company sells housing at a price of $950 per square meter for a term of 25 years without a down payment.
“Why is the price increasing? This money does not go into someone’s pocket, but to the state company. Over 25 years, inflation occurs, and this money should at least cover inflationary losses. We increased the authorized capital of the State Mortgage Company to $1 billion, while in 2021 it was only 10 million soms,” added Sadyr Japarov.
According to him, next year it is planned to increase the authorized capital of the State Mortgage Company to $2 billion, as well as to start the construction of housing in all regions, small towns, and villages of the country.
