The main reasons for the increase in the number of transactions in the real estate market are the purchasing power of the population which has been recovering in the republic, it has been hit by the brunt of the pandemic crisis. On the other hand, in turn it is associated with the end of the harvest season and the receipt of income by agricultural producers.
In Uzbekistan, 21.6 thousand contracts for the purchase and sale of real estate were concluded in October 2021, which is 11.7% more than in September (19.3 thousand). At the same time, the growth compared to the corresponding period of 2020 accounted for 9.5% (19.7 thousand).
Pic 1 Index of changes in the number of executed contracts for the purchase and sale of real estate
The month of August had the most activity in the real estate market this year.
As for the regions, compared with September of this year, all regions showed an increase.
In particular, the highest growth rates of purchase and sale of real estate were observed in Andijan (30.5%), Khorezm (25.4%), Navoi (22.2%) regions, and the lowest - in Surkhandarya (5.7%) and Tashkent (8.4%) regions and Tashkent city (7.5%).
It should be noted that the real estate market in the country is successfully going through a recovery phase, and activity on the market has not only recovered to pre-quarantine levels, but also increased significantly. So, compared to October 2019, the growth amounted to 36.7% in the republic.
The main reasons for the increase in the number of transactions in the real estate market are the purchasing power of the population which has been recovering in the republic, it has been hit by the brunt of the pandemic crisis. On the other hand, in turn it is associated with the end of the harvest season and the receipt of income by agricultural producers.
Uzbekistan is recovering from the crisis, and the population's income is stabilizing and growing.
Further formation of market relations in the real estate market and the involvement of the Uzbek economy in worldwide processes lead to greater market openness.
Despite the peculiarities of the domestic real estate market, its development is largely influenced by such global trends as a pandemic, rising prices for energy resources, exchange rates of world currencies, etc.
Khalilullokh Khamidov, head of the CERR sector
tel: (78) 150 02 02 (410)
CERR Public Relations Service
tel: (78) 150 02 02 (417)
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