Rental Yield in Bishkek: What Landlords Actually Earn in 2026
The question "how much does a rental apartment actually bring in?" is asked by everyone considering real estate as an investment. We calculate it honestly — including all costs and taxes.
Key Concepts: Gross and Net Yield
Gross yield — rental income without expenses:
Gross yield = (annual rent / apartment value) × 100%
Net yield — what you actually keep:
Net yield = (annual rent − expenses) / apartment value × 100%
Bishkek 2026 Calculations
One-bedroom apartment: long-term rental
Residential district (Jal, Vostok-5, Asanbay):
- Apartment value: 3,500,000 som (~$40,000)
- Rent: 20,000 som/month
- Annual income: 240,000 som
Expenses:
- Vacancy ~1 month per year: −20,000 som
- Utilities during vacancy: −5,000 som
- Minor repairs / appliance replacement (per year): −15,000 som
- Tax (6% for individuals renting out): −14,400 som
- Total expenses: ~54,400 som
Net income: 240,000 − 54,400 = 185,600 som/year Net yield: 185,600 / 3,500,000 = 5.3% per annum Payback period: ~19 years
One-bedroom apartment: short-term (daily) rental
Same apartment, but rented out by the day.
- Average nightly rate: 2,500–3,500 som
- Occupancy 60% (219 days per year)
- Annual income: ~650,000 som
Expenses:
- Cleaning after each guest (~500 som × 219): −110,000 som
- Consumables (soap, linen, electricity, water): −60,000 som
- Furniture and appliance depreciation: −40,000 som
- Tax: −39,000 som
- Total expenses: ~249,000 som
Net income: 650,000 − 249,000 = 401,000 som/year Net yield: 401,000 / 3,500,000 = 11.5% per annum Payback period: ~9 years
But: short-term rental requires active management — it is effectively a business, not passive income.
District Comparison: Long-Term Rental
| District | 1BR apartment price | Rent/month | Gross yield |
|---|---|---|---|
| Centre (Erkindik Blvd) | 7,000,000 som | 35,000 som | 6.0% |
| Sverdlovsky district | 4,500,000 som | 22,000 som | 5.9% |
| Jal microdistrict | 3,200,000 som | 18,000 som | 6.8% |
| Vostok-5 | 3,000,000 som | 17,000 som | 6.8% |
| Alamudun district | 2,500,000 som | 15,000 som | 7.2% |
Conclusion: Residential districts offer higher yields — cheaper to buy, while rent does not fall proportionately. The centre has a lower yield but higher liquidity and price appreciation.
What Reduces Yield?
- Vacancy — 1–2 months of vacancy per year = minus 8–17% of annual income
- Non-paying tenants — 1–2 months of legal proceedings
- Post-tenant repairs — especially in long-term rentals
- Rising utility costs — if included in the rent
- Taxes — official letting reduces yield; unofficial creates risk
What Increases Yield?
- Furnishing — a furnished apartment lets for 20–30% more
- Appliances (washing machine, refrigerator, TV) — the essential minimum
- Internet — always expected, costs 500–800 som/month
- Good renovation — reduces tenant turnover and vacancy duration
- Realistic price — an inflated price means prolonged vacancy
Rental Yield vs Bank Deposit
| Instrument | Yield | Risks |
|---|---|---|
| Bank deposit (som) | 12–15% | Banking risk |
| Long-term rental (net) | 4–6% | Low |
| Short-term rental (net) | 9–13% | Management |
| Property value appreciation | 5–10%/year (historical) | Market |
Total return (rental + appreciation) = 10–16% — competitive.
Consultation with Aziza Talantbekovna – realtor with 30 years experience in Bishkek. From 2,000 som. Tel: +996 702 584 477
PAID consultation. Price: from 2,000 som. Even for a single question. Tel: +996 702 584 477