Housing prices in Bishkek have equaled global levels. The government explained the reason.

Ирэн Орлонская Local news
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At the meeting of the Jogorku Kenesh, Bolotbek Borbiev raised a relevant issue concerning the rise in housing prices.

The deputy expressed his bewilderment, noting that the cost of apartments in Bishkek has nearly equaled prices in major cities around the world, and he questioned whether the incomes of the population had increased to such levels.

He also addressed the government: "You monitor price dynamics in other sectors. What work are you doing regarding housing?"

In response, Deputy Prime Minister Daniyar Amangeldiev stated that the discussion of this issue could take place within the framework of a joint commission established by the parliament and the government. However, he emphasized that current housing prices are still being kept in check.

"If there is a sharp rise in prices in any sector, the state can intervene. Nevertheless, thanks to the State Mortgage Company, prices remain at an acceptable level for now. If it weren't for the activities of the SMC, the cost of housing would be significantly higher, as there is a shortage of land plots in Bishkek and other major cities. The price of one square meter of land has a significant impact on housing costs. In this context, the SMC functions as a regulator that helps stabilize prices," he noted.
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