The State Mortgage Company may introduce benefits for migrant workers and reduce prices for citizens with disabilities

In an interview with the national news agency Kabar, Sadyr Zhaparov commented on questions about the cost of housing being built by the State Mortgage Company (SMC). According to him, current prices are directly linked to the terms of mortgage programs and the company's long-term goals.

The head of state noted that housing under the SMC is provided for a term of up to 25 years without a down payment, which already significantly reduces the financial burden on citizens. In Bishkek, the cost per square meter under the Social, Privileged, and Cheap Mortgage programs ranges from $900 to $1,000, depending on the construction area.

Social mortgages (for single mothers, persons with disabilities, and their guardians) and preferential mortgages (for teachers, doctors, and other public sector employees) are available at 4% per annum, while “affordable mortgages” for private sector employees are available at 8% per annum. All programs are designed for 25 years and do not require a down payment.

Separately, the president focused on the shared construction mechanism, under which the cost of housing ranges from $1,000 to $1,400 per square meter, depending on the location. Such apartments are usually offered to compatriots working abroad: they pay 50% of the cost immediately and the remaining amount in installments over 15 years.

At the same time, Zaparov emphasized that SMC prices are significantly lower than market prices. According to him, on the free market, the cost of one square meter of new housing at the foundation stage in the same areas can reach $2,000–$3,000, while SMC apartments are rented on a turnkey basis, completely ready for occupancy.

The president also explained why SMC is forced to raise housing prices. The income from the sale of apartments allows the company to reinvest funds in new projects and maintain large-scale construction.

“If the apartments were provided at cost, the company would quickly go bankrupt,” he said, adding that inflation, a 25-year mortgage term, and minimum profit are taken into account when setting prices.

According to data for 2025, 4,662 families will be provided with housing through the SMC (in 2024 — 1,197). Currently, 80,245 apartments with a total area of 5.4 million square meters are under construction across the country. In 2026, it is planned to commission 20,021 apartments in all regions of the republic.

In conclusion, Sadyr Zhaparov said that the authorities will consider the possibility of introducing separate benefits for migrant workers, as well as additional price reductions for citizens with disabilities. According to him, the strategic goal of the SMC program is to provide modern housing that meets European standards in all regions of the country within 10-15 years, and the company's pricing policy is subordinated to this task.