According to Nurdand Oruntaev, the Minister of Construction, Architecture, and Housing and Communal Services of the Kyrgyz Republic, a sharp rise or jump in real estate prices is not expected following the introduction of the ban on selling apartments at the ground level.

Purpose of the Measures and Impact on Consumers

The head of the department stressed that the implemented measures are purely regulatory in nature and do not necessitate the introduction of new, costly technical solutions during construction. He noted that the funds spent on building the object will ultimately be recouped from the end consumer.

I think there will be no sharp rise, because the same funds that will be spent on the construction of this object will return from the end consumer. This must be taken into account. The introduced measures are more regulatory actions, and they should not cause any losses to our citizens.
Nurdand Oruntaev

The Minister highlighted that the primary goal of the ban is to safeguard the rights of buyers and eliminate risks associated with the activities of dishonest developers. He pointed out that many unscrupulous companies begin selling apartments from the ground level even before concrete works have started, thereby endangering citizens.

Oruntaev added that the general public has become more knowledgeable about purchasing housing, and all documentary and technical factors are now checked. He stated that the measures ensure that construction companies first invest their own funds into construction and only then receive their income as profit.

Key Takeaways

primary goal of the ban
1
objective
protecting buyers' rights
impact of measures
preventing losses

The Minister confirmed that there will be no price jumps.