Uzbekistan’s Housing Market Accelerated in October
The Center for Economic Research and Reforms has released an updated analysis of Uzbekistan’s real estate market dynamics for October.
The total number of residential property purchase-and-sale transactions increased by 12% compared to the previous month, reaching 27.1 thousand — the highest level since August 2023.
Regional overview
A rise in housing-market activity was recorded across all regions of the country in October.
The most significant monthly increase was observed in the Khorezm, Bukhara and Tashkent regions, where the number of transactions grew by an average of 26%.
Moderate growth was recorded in the Surkhandarya and Syrdarya regions, at around 2% and 4% respectively.
Tashkent accounts for about 30% of all residential transactions nationwide. In October, sales volumes in the capital rose by 5.3% month-on-month, while the year-on-year increase reached 32%.
Secondary housing market
In October, price dynamics in the secondary housing market accelerated. The average price per square meter increased by 2.4% over the month, compared with 0.6% in the previous month.
Year-on-year, the average price in this segment rose by 7.4%.
The fastest growth was recorded in the Surkhandarya and Namangan regions, where prices increased by roughly 20%.
Real estate market in Tashkent
In Tashkent, prices in the secondary housing market remained close to the previous month’s level, showing a modest increase of around 0.7%.
Year-on-year, the average price for secondary housing in the capital fell by 1%.
The most noticeable decline was observed in the Mirzo-Ulugbek and Yashnabad districts, where prices decreased by around 5% on average.
On the primary housing market, however, prices continue to rise. In October, the average price per square meter increased by 2.1% year-on-year. The strongest growth was recorded in the Bektemir, Yashnabad, Mirabad and Yakkasaray districts, where prices increased by roughly 5.5% on average.
Rental market in the capital
In October, the average rental rate in Tashkent remained unchanged from the previous month, amounting to $8.5 per sq. m. The highest rates persist in the central districts — Mirabad, Yakkasaray and Mirzo-Ulugbek — where average rents stand at roughly $10.2 per sq. m.
Compared to October last year, rental rates increased by 1.6%. The largest year-on-year rise was observed in the Bektemir, Yashnabad and Sergeli districts, averaging around 9%.
Jaloliddin Usmonov, CERR
CERR Public Relations Sector
Tel.: (78) 150-02-02 (417)
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