Bishkek Real Estate Prices Surge Above $4,000 per Square Meter
The cost of housing in Bishkek continues to rise, reaching up to $4,000 per square meter. This information was shared by the Director of the State Agency for Architecture, Construction, Housing and Communal Services, Nurdan Oruntaev, during a meeting of the Mekenchil deputy group.
Oruntaev explained that the cost of apartments in the capital ranges from $900 to $1,100 per square meter, while in panel houses it is approximately $600. However, the market price for finished housing starts at $1,500 per square meter.
During the meeting, the head of the state agency also provided an example of a property where the price per square meter soared to $4,000, with housing being sold for $1,200-1,300 at the excavation stage. He emphasized that the implementation of the renovation program could help control the escalation of prices.
Furthermore, Oruntaev mentioned that construction of buildings up to 24 floors is permitted in Bishkek, and even higher if specific technical conditions are met. He noted that one construction company is already working on a 27-story building.
According to Oruntaev, advancements in modern technologies enable these tall buildings to withstand earthquakes of up to magnitude 8. This information highlights the growth and development of the real estate market in Bishkek, as well as the importance of utilizing innovative construction methods to ensure safety and longevity of buildings in the region.
