At the IV People's Kurultai meeting on December 26 in Bishkek, President Sadyr Japarov shared details about the state mortgage program.
In his speech, he responded to a question from delegate Saadatbek Kusegenov, who raised the issue of the high cost of housing built by private construction companies. Japarov reminded that in 2021 and 2022, the government invited these companies to build housing at a price of 600–700 dollars per square meter, but they refused, offering their rates at 1000 dollars per square meter.
In response, the government established the company "Kyrgyzstroyservice," which set the cost of housing construction in the Chui Valley at 700 dollars per square meter "turnkey" for transfer to the State Mortgage Company. For other regions, the price is 750 dollars per square meter due to transportation costs for delivering materials from Bishkek.
The president cited the example of the residential complex "Muras," which occupies 8 hectares and includes nearly 5,500 apartments. The State Mortgage Company offers apartments at a price of 950 dollars for 25 years without a down payment.
"Why does the State Mortgage Company add 250 dollars? This money does not go into anyone's pocket but remains in the state company to cover inflation over 25 years. This is a program created for the people," noted Sadyr Japarov.
He also reported that the authorized capital of the State Mortgage Company has grown to 1 billion dollars, whereas in 2021 it was about 10 million soms. In 2026, a further increase in capital by 1 billion dollars to 2 billion dollars is expected. After that, the state will no longer allocate funds from the budget, and the State Mortgage Company will independently provide citizens with housing.
Additionally, the president added that in the future, mortgage housing will also be built in small towns.
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