CERR updated assessment of housing and rental market trends
The Center for Economic Research and Reforms has released an updated analysis of real estate market dynamics in Uzbekistan for November.
The total number of housing sales nationwide increased by 13.2% compared to the same period last year, reaching 25 thousand transactions.
Regional breakdown
The most significant year-on-year growth was recorded in Bukhara region (35.4%), Kashkadarya region (26.5%), and Samarkand region (21.7%).
The capital accounts for about 30% of all housing transactions in the country. In November, the volume of sales in Tashkent increased by 8.8% year-on-year.
Secondary housing market nationwide
On the secondary housing market across the country, a moderate price increase was observed, averaging around 7% year-on-year.
The sharpest acceleration in price growth was recorded in Surkhandarya, Jizzakh and Namangan regions, where prices rose by an average of around 17% compared to the same period last year.
Real estate market in Tashkent
Year-on-year, the average price of secondary housing in Tashkent decreased by 0.9%, while prices on the primary market, on the contrary, showed an increase of 4% year-on-year.
The decline in secondary housing prices was most pronounced in Mirzo-Ulugbek and Yashnabad districts, where the average decrease amounted to about 5%.
On the primary housing market in the capital, the highest price growth was recorded in Yakkasaray, Mirabad and Mirzo-Ulugbek districts, where prices increased on average by around 9%.
Rental market in the capital
In November, the average rental rate in Tashkent amounted to $8.7 per square meter, which is 5% higher than the level of the same period last year.
The highest rental rates remained in central districts, including Shaykhantakhur, Mirabad and Yakkasaray, where rents averaged $11 per square meter.
A noticeable acceleration in rental price growth was also recorded in Mirzo-Ulugbek, Mirabad and Bektemir districts, where rates increased by an average of around 8% year-on-year.
Jaloliddin Usmonov, CERR
CERR Public Relations Sector
Tel.: (78) 150 02 02 (417)
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