The President discussed issues related to housing prices
At the IV People's Kurultai, held in Bishkek at the end of 2025, delegates raised the relevant topic of the cost of housing being built by the State Mortgage Company (GIK). President Sadyr Japarov commented on the situation at that time.
At the beginning of this year, he returned to this topic again, as the prices for apartments and houses remain significant for the citizens of Kyrgyzstan.
In an interview with the state agency "Kabar," the president explained how the price per square meter is formed within the framework of the mortgage program.
“We are considering this issue with long-term perspectives in mind,” he noted.
Firstly, housing provided through GIK is issued for 25 years without a down payment.
In Bishkek, under the state program for those on the waiting list, the cost per square meter ranges from 900 to 1,000 US dollars depending on the area, under the "Social," "Preferential," and "Affordable" mortgage categories.
For "Social mortgage" (for single mothers, people with disabilities, and guardians) and "Preferential mortgage" (for teachers and doctors, as well as other public sector workers), housing is provided at 4% per annum for 25 years without a down payment.
Meanwhile, "Affordable mortgage," aimed at private sector workers, implies a rate of 8% per annum for the same term and also without a down payment.
As for shared construction, the cost per square meter of housing ranges from 1,000 to 1,400 US dollars depending on the location, with apartments delivered in a "turnkey" format.
In suburban areas, the price is lower, while in central, so-called "elite" areas, it is significantly higher.
Housing sold on a shared basis is mainly intended for Kyrgyz citizens working abroad. In this case, citizens do not join the housing queue, as they pay 50% of the apartment's cost as a down payment, while the remaining amount is paid in installments over a period of up to 15 years.
Compared to market prices, the cost per square meter in new houses without finishing (at the foundation stage) can reach 2,000–3,000 US dollars.
At the same time, housing from GIK is offered in a fully finished state at a more reasonable price.
GIK is forced to set a small markup on the cost of housing; otherwise, the company would not be able to maintain construction volumes at the current level. Funds from citizens receiving apartments in order and those purchasing housing on a shared basis with a 50% down payment are directed to finance GIK's activities and further construction of new facilities.
By the end of 2025, 4,662 families were 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 in the country.
For 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. GIK aims to ensure the construction of modern residential buildings to European standards not only in cities but also in villages over the next 10–15 years. This historic mission has been entrusted to the State Mortgage Company. If GIK were to sell housing solely at cost, 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, with plans to increase it to 200 billion soms.
If housing were sold exclusively at cost, the company would quickly face bankruptcy, considering the 25-year mortgage lending term, inflation, and minimal profitability. Therefore, the current pricing policy is justified.
There is also consideration of creating a separate queue or providing additional benefits for labor migrants. An analysis of further reducing housing costs for people with disabilities will also be conducted,” concluded Sadyr Japarov.
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