The number of real estate transactions in Kyrgyzstan decreased by 9.1%

Kyrgyzstan has seen a decline in real estate transactions amid sharp increases in housing prices. According to the results of 2024, the number of registered real estate purchase and sale transactions decreased by 9.1%.

As a result, a total of 47,986 transactions were conducted last year. Of these, transactions involving apartments decreased by 8% to 27,869, and those involving individual residential houses decreased by 10.7% to 20,117.

The decline in market activity occurred against the backdrop of continuing growth in housing prices, which outpaced income growth. The average price per square metre of an apartment in Bishkek rose by 30.7% over the year, reaching 95,900 KGS. In Osh, the increase was 19.1%, to 64,400 KGS.

The cost of individual residential houses also increased significantly, in Bishkek by 25.3% (to 142,100 KGS per square metre) and in Osh by 30.2% (to 119,000 KGS).

Against the backdrop of rising housing prices, affordability is declining, especially for families without mortgage support or subsidies. Earlier, Akchabar wrote that Kyrgyzstanis will now have to save for a standard two-room apartment (54 square metres) for six months longer, a total of 7 years and 6 months.