The Center for Economic Research and Reforms has presented its updated review of Uzbekistan’s real estate market based on the results of March 2026. The market demonstrated sharp growth and an acceleration in activity.
In March, the volume of housing transactions reached 43.6 thousand deals, which is 47% higher than in the previous month.
The surge in activity in March was partly driven by the transition to escrow account settlements, which came into force in April. The new settlement procedure for housing purchases may have supported additional demand and shifted part of transactions to an earlier period.
In annual terms, the market posted multiple growth. The number of transactions more than doubled compared with March of last year.
Regional Breakdown
According to the results of March, housing market activity increased in all regions of the republic compared with the previous month.
The highest growth rates were recorded in Syrdarya Region, where the number of transactions rose by 64.6%, as well as in Jizzakh Region by 73.2% and Namangan Region by 63%.
A significant number of regions posted comparable growth rates of around 40%–50%, including Andijan Region, Bukhara Region, Samarkand Region, Surkhandarya Region, Republic of Karakalpakstan, Tashkent Region and Tashkent.
The capital city accounted for around 34% of the total number of transactions. Sales volume in Tashkent increased by 44% over the month and reached approximately 12.8 thousand deals.
Secondary Housing Price Dynamics Nationwide
At the end of the month, the secondary housing market recorded a moderate price increase of 0.4%.
In annual terms, price growth remained at a higher level. On average across the republic, the cost of secondary housing increased by 10% compared with the same period last year.
The highest price growth rates were recorded in Syrdarya Region at 22%, Samarkand Region at 18.7%, and Andijan Region at 17.6%.
Real Estate Price Dynamics in Tashkent
The situation in the capital’s real estate market is characterized by moderate price dynamics in the secondary segment and stronger growth in primary housing.
In annual terms, the average price per square meter in the secondary market increased by 5%. The most notable price growth was recorded in Mirabad District at 7.3%, Mirzo-Ulugbek District at 7.2%, and Chilanzar District at 6.9%.
In the primary housing segment, price growth outpaced the secondary market. Compared with March of last year, the average price per square meter increased by 8.8%. The highest growth rates were recorded in Mirzo-Ulugbek District at 15.5%, Mirabad District at 14.9%, and Yunusabad District at 14.6%.
Rental Rate Dynamics in the Capital
In March, the average residential rental rate in Tashkent stood at around $8.9 per square meter, which is 2.7% higher than the previous month and 10.8% above the same period last year.
The highest rental rates remain concentrated in the central districts of Tashkent, including Mirabad District, Shaykhantahur District, Yakkasaray District and Mirzo-Ulugbek District, where rents stand at around $11 per square meter.
At the same time, the highest annual growth rates were recorded in Yashnabad District at 18.9%, Mirzo-Ulugbek District at 14.3%, and Yakkasaray District at 12.5%.
Jaloliddin Usmonov, CERR
CERR Public Relations Sector
Tel: (78) 150 02 02 (417)
leave a comment