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Housing prices in Bishkek may exceed $4,000 per square meter

The cost of one square meter of housing in Bishkek reaches $4,000. The Director of the State Agency for Architecture, Construction, Housing and Communal Services Nurdan Oruntaev announced at a meeting of Mekenchil deputy group.

According to him, the cost of apartments in the capital is $900 — 1,100 per square meter, and in panel houses — about $600. However, the market price of finished housing starts at $1,500 per square meter.

The head of the state agency gave an example of an object where the price per square meter reached $4,000, and housing is sold for $1,200-1,300 at the excavation stage.

The official emphasized that the implementation of the renovation program can curb the rise in prices.

In addition, Oruntaev said that it is allowed to construct buildings up to 24 floors high in Bishkek, and higher, if special technical conditions are met. He specified that one of the construction companies is already constructing a 27-story building.

According to him, modern technologies allow such buildings to withstand earthquakes of magnitude up to 8.

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