Real estate market of Uzbekistan — CERR overview

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

For the second month in a row, the number of transactions for the purchase and sale of housing is growing: if 18 thousand transactions were registered in January, then in February their number increased to 22.5 thousand, an increase of 24%.

High growth rates were recorded in Navoi – 63%, Samarkand – 52% and Syrdarya regions - 30%.

Compared to February 2022, home sales increased by 2.6%.

Changes in prices for rental housing in Tashkent

In February, a decrease in rental prices was noted in most districts of the capital. Thus, the average rental price in Tashkent amounted to $9.86 per 1 sq. m. with a decline of 2.3% by January 2023.

The highest rental cost was noted in Shaikhantakhur ($13.3), Yakkasaray ($12) and Mirabad ($12) districts.

Relatively low rental prices were recorded in Uchtepa ($7.7), Sergeli ($6.8) and Bektemir ($6.6) districts of the capital.

At the same time, by the corresponding period of 2022, the average rental price in Tashkent increased by 19.9%.

Secondary real estate market

According to calculations, during the month the average cost of housing per 1 sq.m in the secondary market increased by 4.5%, while since February 2022 the growth was 23.1%.

Since the beginning of the year, a significant increase in the cost of housing was noted in Navoi – 32.7%, Ferghana regions – 31.5% and Tashkent – 31.5%.

In the secondary market of Tashkent, the price increase in February amounted to 3.8% per month. The highest price growth was recorded in Chilanzar (9.6%), Sergeli (6.2%) and Almazar (4.9%) districts.

In comparison with February 2022, average housing prices in Tashkent increased by 31.5%.