Uzbekistan’s Real Estate Market Maintains Positive Momentum
According to the Center for Economic Research and Reforms (CERR), the market continues to show steady growth year-on-year.
CERR has released an updated analysis of trends in the real estate market.
As of September 2025, the total number of housing purchase and sale transactions in the country amounted to 24.2 thousand, an increase of 13.7% compared to September of the previous year.
The highest annual growth rates were recorded in Syrdarya (+35.6%) and Bukhara (+20.2%) regions, as well as in Tashkent city (+31.2%).
In the Q3 2025, a total of 75.5 thousand transactions were concluded nationwide, which is 13.6% higher than in the same period last year and 11% more than in the Q2 this year. The most significant growth in activity was observed in Bukhara (+27.3%), Syrdarya (+24.9%) regions and in Tashkent city (+19.9%).
Secondary and Primary Markets
In September, average housing prices on the secondary market across the country rose by 0.6%. On an annual basis, compared to September of the previous year, the average price on the secondary market increased by 4.6% per square meter. The highest price growth was observed in Surkhandarya (+19%), Syrdarya (+15.8%), and Jizzakh (+14.5%) regions.
In Tashkent, secondary housing prices rose by 0.6% over the month, but showed a 1.7% decline compared to September of last year.
The decrease in secondary market prices was most noticeable in the Yashnabad, Mirzo-Ulugbek, and Chilanzar districts, averaging 4.3%. Meanwhile, prices in the primary housing market increased by 3%. The sharpest rise in primary housing prices was recorded in the Mirabad, Bektemir, and Yakkasaray districts, averaging 5.8%.
Rental Market
In September, the average rental rate in Tashkent stood at $8.5 per square meter. The highest rates remain in the central districts — Mirabad, Shaykhantakhur, and Yakkasaray — where the average rent is around $10.6 per square meter. Compared to September of last year, rental rates increased by 1.4%. The most notable growth was recorded in the Yunusabad, Almazar, and Mirabad districts, averaging 4.4%.
Jaloliddin Usmonov, CERR
CERR Public Relations Sector
Tel: (78) 150 02 02 (417)
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