The Center for Economic Research and Reforms presented its regular analysis of the situation in the residential real estate market.
In November, the real estate market continued to maintain a positive trend. Sales amounted to 21.9 thousand transactions, exceeding the October level by 2.5%.
At the same time, activity in this sector increased by 0.8% year-on-year.
The dynamics of real estate sales growth in November demonstrates positive trends in various regions of Uzbekistan, especially in the Khorezm (by 15.6%) and Bukhara (by 8.4%) regions.
Tashkent, as the capital and largest city of the country, occupies about 30% of the total volume of the real estate market with an increase in activity by 9.3%.
In the month, prices for secondary housing in the republic have practically not changed, with a slight increase of 0.3%, whereas compared to last year, an increase of 6.2% was noted.
Over the year, a significant increase in value in this market segment was noted in Surkhandarya (by 18.1%), Bukhara (by 11.9%) and Kashkadarya (by 10.2%) regions.
Secondary housing remains the most affordable in the Republic of Karakalpakstan, where the average cost per square meter is $333.
In Tashkent, the average cost of secondary housing increased by only 0.2% in a month and amounted to just over $1.1 thousand.
In the context of the districts of the capital, a noticeable increase in prices was noted in Bektemir (by 4.4%), Yashnabad (by 2.4%) and Shaikhantakhur (by 2.2%) districts.
In general, over the year in the republic, the average cost per square meter of housing in the secondary market increased by 6.2%, while in Tashkent prices decreased moderately by 1.5%, respectively.
Stagnation in the rental market in Tashkent was noted in November. The average rent per square meter was $8.3, which is generally consistent with the indicator of June this year.
High rental prices remain in the central areas of the capital, such as Mirabad, Shaikhantakhur and Yakkasaray, where on average rent will cost $10-11 per square meter.
At the same time, the average rental price in Tashkent decreased by 10.7% compared to last year. The largest decrease in prices over the year was noted in Uchtepa (by 14.5%), Yashnabad (by 14.3%) and Yunusabad (by 13.8%) districts.
For reference: The review of the real estate market in Uzbekistan is one of the research areas of the CERR, which presents the dynamics of activity in 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. To track the dynamics of the market, data for the same period last year are provided.
Jaloliddin Usmonov, CERR
CERR Public Relations Service
tel: (78) 150 02 02 (417)
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