Uzbekistan’s Real Estate Market Remains Highly Active
The findings reflect changes in transaction activity and regional structure, as well as price trends in the housing and rental markets in the capital.
The Center for Economic Research and Reforms (CERR) has presented an updated обзор of developments in Uzbekistan’s real estate market based on the results for February 2026. The analysis captures shifts in transaction activity and regional distribution, along with trends in the housing and rental markets in the capital.
According to estimates, housing sales across the country increased by nearly 4% in February, reaching 29.7 thousand transactions. Compared to the same period last year, the number of completed transactions rose by 7.2 thousand, reflecting a 32.4% increase.
Regional Breakdown
The most notable year-on-year growth in activity was recorded in Navoi region, where transactions increased by 53%. Strong dynamics were also observed in Syrdarya region, with growth of 39%, as well as in Tashkent city, where the number of transactions rose by 49%.
On a month-on-month basis, the highest increase was recorded in Tashkent region (+25%), followed by Navoi region (+22.6%) and Syrdarya region (+13.4%).
In February, the capital accounted for approximately one-third of all transactions. The volume of sales in Tashkent increased by 1.4% over the month, reaching around 8.9 thousand transactions.
Price Dynamics in the Secondary Housing Market Nationwide
At the end of the month, a slight slowdown in price growth was observed in the secondary real estate market. At the same time, in the capital, prices increased moderately by around 1% in February.
Compared to the same period last year, secondary housing prices across the country increased by approximately 9% on average.
The highest annual price growth was recorded in Surkhandarya region (+22%), followed by Syrdarya (+19.3%), Jizzakh (+16.3%), and the Republic of Karakalpakstan (+15.9%).
Real Estate Market in Tashkent
In the secondary housing market of Tashkent, the average price per square meter increased by 3.2% compared to February last year. The most notable growth was recorded in Mirabad district (+7%), Yakkasaray (+5.6%), Shaykhantakhur (+5.4%), and Chilanzar (+5.3%).
In the primary housing market, the average price per square meter increased by 11.5% year-on-year. The strongest growth was observed in Mirabad district (+18%), Mirzo Ulugbek (+15.4%), and Yunusabad (+15.2%).
Rental Market Dynamics
As of February, the average rental price in the capital remained stable at around $8.7 per square meter. At the same time, rental rates increased by 8% compared to the same period last year.
The highest rental rates in February were observed in central districts of the capital, including Mirabad, Shaykhantakhur, Yakkasaray, and Mirzo Ulugbek, where prices averaged around $11 per square meter.
At the same time, an acceleration in rental growth compared to last year was recorded in Yashnabad (+16%), Sergeli (+13%), Yunusabad (+12%), Almazar (+11%), and Shaykhantakhur (+10%) districts.
Jaloliddin Usmonov, CERR
CERR Public Relations Sector
Tel: (78) 150 02 02 (417)
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