The President explained the components of the price for mortgage housing
Today, January 12, President Sadyr Japarov participated in the ceremonial handing over of keys to new apartments as part of the second phase of the construction of the "Muras" residential complex located in Bishkek. During this event, he made several significant statements regarding the state housing policy and the prospects of the State Mortgage Company.
According to the president's press service, the "Muras" residential complex project includes 39 blocks, of which 19 have already been completed. As part of the second phase, keys to 1,080 apartments were handed over to owners, and previously, another 986 apartments were handed over. Currently, 2,688 apartments are actively under construction, which are planned to be completed on schedule. The complex also includes a kindergarten, school, parking, and other social facilities.
"Today's handover of apartments from the State Mortgage Company is a vivid testament to the successful implementation of housing policy in our country," emphasized Sadyr Japarov.
He also reminded that the State Mortgage Company was established 10 years ago with a charter capital of 10 million soms, which has now increased to 87 billion soms. The main task of the company is to increase its capital to 200 billion soms. According to the president, in 2025 alone, the company provided housing for 4,662 families, which is four times more than in 2024. Since the company's inception, 14,945 families have received their own apartments.
Furthermore, the president noted that there are currently 80,245 mortgage apartments under construction in the country. By the end of the year, more than 20,000 apartments are planned to be built in Bishkek, Osh, Manas, Tokmok, Kara-Balta, Karakol, Cholpon-Ata, Balakchy, Naryn, Talas, and Batken, as well as in the Kochkor district of Naryn region and in the Kara-Suu and Uzgen districts of Osh region.
Sadyr Japarov also focused on the issue of pricing for mortgage housing, stating that the State Mortgage Company bases its activities on precise calculations and analysis.
"Apartments are provided to citizens on the waiting list for housing without an initial payment for a period of up to 25 years at interest rates of 4% and 8% per annum, which is below the inflation rate in the country," the president explained.
He cited Bishkek and Chui region as examples, where private companies build housing "turnkey" at a price of $700 per square meter. After construction is completed, the apartments are transferred to the State Mortgage Company, which adds $250 and sells them for $950 per square meter.
"It is important to understand that since the State Mortgage Company provides apartments for 25 years, these $250 do not compensate for inflation over the entire period and do not even cover half of the inflationary losses. Nevertheless, we accept such conditions to ease the lives of citizens. If you were buying housing from private individuals, the cost would be at least $1,500 per square meter," noted the head of state.
He also mentioned the rise in prices for construction materials, labor costs, infrastructure development, the construction of pumping stations, and treatment facilities, which affect the economically justified price per square meter.
A key point was the announcement regarding future financing of the State Mortgage Company. As the president stated, in 2026, the company will receive funds from the state budget for the last time—about $500 million. From 2027, budget financing will cease.
"The own capital, reaching 200 billion soms, will allow the State Mortgage Company to provide housing for people not for 5–10 years, but for 50–100 years," the president emphasized, calling on citizens to understand the pricing policy for mortgage apartments.
Photo by the press service
