In Kyrgyzstan, you can now buy an apartment in 7.5 years if you try really hard

Housing in Kyrgyzstan has become slightly more affordable—at least according to statistics. According to the latest housing affordability index, it now takes an average family 7 years and 5 months to save up for an apartment, whereas a year earlier it took 8 years and 1 month.

The progress, as calculated, is due to the fact that salaries are growing faster than real estate prices. Thus, the average monthly nominal salary increased by 19%, while housing prices increased by “only” 14.7%. The gap in growth rates has reduced the savings period by almost eight months.

To purchase a 54-square-meter apartment, a family of three, where two people earn an income, is advised to adhere to the following financial discipline:

• monthly income per person — 42,020 KGS;
• minimum consumer budget — 26,309.8 KGS, or 31.3% of total income;
• everything else — savings.

If you save virtually your entire average monthly salary, without allowing for any extraordinary expenses, inflationary surprises, or life circumstances, then in 7.5 years the apartment will become a reality. All other things being equal, of course.