CERR assessed the real estate market in Uzbekistan
Real estate sales began to grow moderately and a gradual improvement in the epidemiological situation affected purchasing activity in August.
The Center for Economic Research and Reforms (CERR) regularly analyzes changes in demand of real estate market in Uzbekistan.
In August 2021, 21.8 thousand contracts were concluded for the purchase and sale of real estate in Uzbekistan, which is 20.6% more than in July (18.1 thousand). At the same time, the growth amounted to 39.5% (15.6 thousand) compared to the corresponding period of 2020.
As for the regions, there was an increase in all regions in comparison with July.
The highest growth rates of purchase and sale of real estate were recorded in Bukhara (37.4%), Kashkadarya (33.1%), Andijan (31.5%) and Surkhandarya (25.9%) regions.
It should be noted that the real estate market in the country is successfully recovering and market activity has increased significantly. Thus, compared to August 2019, the growth in the country amounted to 30.8%, the highest activity of demand was recorded in Tashkent and exceeded 66%.
The main reasons for the increase in the number of transactions in the real estate market are the improvement of the epidemiological situation and the easing of quarantine restrictions, which put pressure on the economy. Moreover, that mass vaccination will continue to support demand.
Other factors leading to the revival of the real estate market include the end of the holiday season and the beginning of the active work season.
Khalilullokh Khamidov, head of the CERR sector
tel: (78) 150 02 02 (410)
Public Relations Service CERR
tel: (78) 150 02 02 (417)
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