The Center for Economic Research and Reforms presented its regular analysis of the situation in the residential real estate market.
In October, the real estate market showed positive dynamics. Sales amounted to 21.4 thousand transactions, exceeded the level of September by 0.6%.
At the same time, a 2% year-on-year increase in the activity of the real estate sector indicates its recovery.
The regional dynamics of the real estate market in October demonstrates a significant increase in operations in the Tashkent region (+10%), as well as positive changes in Karakalpakstan (+8.1%) and the Jizzakh region (+7.5%).
There is a decrease in activity in six more regions, with the greatest decline in the Khorezm, Surkhandarya and Namangan regions.
In October, prices for secondary housing in the republic remained virtually unchanged, with a slight increase of 0.1%.
During the month, the largest increase in secondary sales was recorded in Andijan (by 5.1%) and Syrdarya (by 3.3%) regions.
While in seven regions there is a decrease in the cost of secondary housing, the largest decrease was recorded in Namangan (by 3.4%), Khorezm (by 3.2%) and Samarkand (by 2.5%) regions.
Secondary housing remains the most affordable in the Republic of Karakalpakstan, where the average cost per square meter is $328.
The highest cost of secondary housing is recorded in Tashkent, where the average price is $1,100 per square meter. A 1.5% decrease in prices in the capital in October indicates a market correction.
In the context of the districts of the capital, a noticeable decrease was noted in Bektemir (by 3.9%) and Yashnabad (by 3.1%) districts.
In the republic as a whole, the average cost per square meter of housing in the secondary market increased by 6.5% over the year, while in Tashkent there was a decrease of 1.3% over the same period.
Stabilization of the situation in the rental housing market in Tashkent continued in October. The average rental price per square meter was $8.3, which is generally the same as in June of this year.
During the month, 5 out of 14 metropolitan areas recorded a decrease in the cost of renting housing. The most noticeable decrease is observed in Sergeli and Uchtepa districts, where the average rent decreased by 4.5%.
High rental prices persist in central areas such as Mirabad, Shaikhantakhur and Yakkasaray, where the average rental price is $10-11 per square meter.
At the same time, the most affordable rental housing is observed in the districts of Bektemir and Sergeli, where the average cost is $6 per square meter.
In general, over the year, rental housing in Tashkent decreased by more than 12%. The largest decrease was noted in Yashnabad (by 18%), Sergeli (by 17%) and Mirzo-Ulugbek (by 15.2%) districts.
For reference: The overview of the real estate market in Uzbekistan is one of the research areas of the CERR, which presents the dynamics of activity in both the primary and secondary real estate markets. The data is presented both for the reporting month and for the period from the beginning of the year to the reporting month. In addition, data for the same period last year are provided to track market dynamics.
Jaloliddin Usmonov, CERR
CERR Public Relations Service
Tel: (78) 150 02 02 (417)
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