Bishkek Apartment Prices on the Rise
Prices of apartments in Bishkek continue to increase, according to the State Agency for Land Resources, Cadastre, Geodesy, and Cartography. The monitoring of the housing market revealed that in July, the average price per square meter of an apartment was 85,045.85 soms, or $999 USD. A house was priced at 109,882.65 soms, and commercial premises at 101,416.59 soms.
Compared to the same period in 2023, the price of apartments in the capital increased by 17.83% in the first 7 months of 2024. The agency reported that apartment prices have been steadily rising throughout the year, with a 12.22% to 13.58% increase from the beginning of the year to July.
The agency predicts that prices will continue to rise due to high demand for apartments in Bishkek. Factors such as the increase in building material costs, inflation, and the exchange rate difference between the dollar and the national currency contribute to the increase in apartment prices. Additionally, stricter requirements from the State Construction Agency for construction companies may also impact apartment prices in the future.
Overall, the housing market in Bishkek is experiencing a steady increase in prices, and it is expected to continue in the coming months.
