In 2024, the average warehouse rental price in the US reached a record high of $109.5 per square metre per year, up 4.5% from 2023. However, despite this growth, warehouse rental prices in Central Asian countries, including Kyrgyzstan, continue to exceed US prices.

According to IBC Global, an international consulting company, the average rental rate for Class A warehouses in Bishkek is about $114 per square metre per year, which is higher than in the US. At the same time, there are no such warehouses anywhere else except Bishkek. The situation is similar in neighbouring countries: in Tashkent (Uzbekistan) rent costs $153 per square metre per year, and in Kazakhstan - about $140 per square metre per year.

Experts say that the main reason for high prices in the region is the shortage of quality warehouse space. The amount of Class A warehouse space in Kyrgyzstan is only about 36,000 square metres, which significantly limits the availability for new tenants. At the same time, the growing demand due to the development of e-commerce and the increase in transit cargo flows is increasing the pressure on the market.

Stanislav Akhmedzyanov, managing partner at IBC Global, notes that the current situation in the US, where rental rates continue to rise due to limited supply while demand is declining, could be an important lesson for Kyrgyzstan. 

‘To reduce the load on the market, it is important to focus on the creation of new projects, especially in the format of built-to-suit and speculative construction,’ the expert emphasises.

It is worth noting that even in Russia, where logistics infrastructure is more developed, warehouse rental rates are $120-130 per square metre per year, which also exceeds American figures. This is due to the shortage of vacant space, especially in Moscow and the Moscow region, where the vacancy rate remains below 1%.

Thus, the situation on the warehouse market in Kyrgyzstan requires attention from developers and the government to address the shortage of quality facilities, which will reduce prices and stimulate the development of the country's logistics sector.