Tashkent, Uzbekistan (UzDaily.com) -- The Center for Economic Research and Reforms (CERR) in its regular review analyzes the changes that have occurred in the real estate market.

In October, real estate sales fell by 10%, the number of purchase and sale transactions amounted to 21 thousand, compared to 23 thousand a month earlier.

The largest decline was noted in Surkhandarya region - by 30%, Namangan region - 24% and Jizzakh region - 23%.

The regions that maintained moderate activity in the real estate market were the Navoi and Bukhara regions, where growth was 12 and 0.8%, respectively.

In the capital region, sales for the month decreased by only 1.7%, in the capital the decrease was more noticeable - 3.2%, against 24% a month earlier.

Compared to last year, home sales decreased by 7%. The highest rates of decline in sales were noted in Tashkent - 27%, Jizzakh - 19% and Syrdarya - 15% regions.

Interestingly, more than 51% of real estate transactions in Uzbekistan occur in the city of Tashkent, Tashkent, Fergana and Samarkand regions.

The situation on the rental housing market in Tashkent

In October, the average rental price in Tashkent increased by 4.4% and amounted to US$9.5 per sq. m, against 9.1 dollars in September. An increase in rental costs was noted in 10 out of 11 districts of the capital.

The most expensive areas for rent were Shaykhantakhursky (US$11.8 per sq.m.), Yakkasaraysky (US$11.2) and Mirabad (US$11.7).

Renting apartments in the capital remains most affordable in the Uchtepa (US$8.0), Sergeli (US$7.4) and Bektemir (US$5.9) districts.

At the same time, the highest rates of growth in housing rentals were again noted in the Yunusabad and Uchtepa districts of the capital by 9.7% and 8.3%, respectively, followed by the Mirzo-Ulugbek and Chilanzar districts, where prices increased by 7%.

Over the course of a month, rental prices became cheaper only in the Yakkasaray district by 0.5%. Compared to the beginning of the year, on the contrary, rental growth was noted in the Sergeli district by 5.3%, as well as in relation to last year, a two percent increase was noted in this metropolitan area.

Compared to last year, the average rental price in Tashkent decreased by 9.5%. Since the beginning of the year, the average rental price has decreased by 7.3%.

Secondary real estate market

In October, the increase in the average cost of housing per sq.m on the secondary market was 0.3%, while since October last year, secondary housing has risen in price by almost 20%.

Since October last year, a significant increase in the cost of housing on the secondary market has been noted in Namangan - 28.1%, Navoi - 27.9% and Tashkent - 30.5% regions.

Over the month, resale prices in Tashkent increased by 1.6%.

The highest growth was noted in Bektemir - 3.2%, Yashnabad - 2.7% and Mirzo-Ulugbek - 2.4% regions.

Compared to September last year, average prices for secondary housing in the capital increased by 25.4%.