Slowing Price Growth
According to the State Agency for Land Resources, Cadastre, Geodesy, and Cartography, the price per square meter in Bishkek has increased by 15% over the year. From 92,635 soms in November last year, it has reached 106,607 soms this month. However, in the last two months, there has been a decrease in prices following a sharp peak recorded in September this year.Real estate expert Pazyljan Ilimov noted: "Prices have certainly risen a bit since the beginning of the year, but this growth is not as noticeable compared to the previous year."
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In 2025, apartments of series 104 increased in price by 17%, while apartments of series 105 and 108 rose by 18%. Individual-type apartments, mainly new builds, increased in price by 22%.
According to Ilimov, there is a decrease in market activity: "Demand has become less noticeable, but there is no complete stagnation."
The expert does not see any prerequisites for a price drop but speaks of a possible slowdown in growth: "Prices may stagnate as some complexes are now being completed, and the offerings are becoming more extensive," he added, pointing to a potential decrease in interest in properties that are under construction.
Where Prices Are Rising and Where They Are Falling
According to data for October, the average cost of apartments was: 7 million soms in the Sverdlovsk district, 6.8 million soms in the Oktyabr district, 6.7 million soms in the Pervomaisky district, and 6.6 million soms in the Lenin district.
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Ilimov noted that price increases are observed throughout the city, but most actively in the south, especially in Besh-Kunge and the area of the "Eurasia" park.
At the same time, prices for properties located on the first lines have begun to fall due to a lack of parking spaces, the expert added. The demolition of several commercial premises also creates additional pressure on the market.
Moreover, the construction of state-subsidized housing continues to influence market prices. "The state mortgage company has drawn away some buyers who could have purchased apartments up to $100,000. As a result, demand for such properties has decreased. Series apartments could have increased in price even more, but that did not happen," Ilimov explained.
What to Expect in the Future?
According to data from the State Agency for Land Resources, a slight increase in apartment prices in Bishkek can be expected at the beginning of next year.
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The trend of growth has been observed since 2023. "Yes, price increases are possible due to rising demand. People want to start with large and pleasant purchases. But I do not expect significant growth," noted Pazyljan Ilimov.
The expert believes that next year, real estate prices will stagnate, and a sharp increase is not anticipated. "If this year the growth was insignificant, then next year a similar trend can be expected," he concluded.
Overall, the analysis of official data and expert opinions indicates a transition of the residential real estate market in Bishkek to a more moderate dynamic. Active construction of new properties increases supply and softens price fluctuations, while demand remains stable. Nevertheless, a rise in real estate prices is possible at the beginning of the year.
Photo on the main page: Alexander Sukhov.
