The real estate market of Uzbekistan in July this year showed positive changes, which indicates a recovery after a decrease in activity in June.
According to an analysis by the Center for Economic Research and Reforms, 23 thousand real estate purchase and sale transactions were registered in July, which is 13.6% more than in June, when their number amounted to 20.2 thousand.
However, compared to July 2023, the number of transactions decreased by 7.4%.
Regionally, the largest growth in real estate transactions during the month was observed in the Syrdarya, Jizzakh and Andijan regions by 53%, 31.5% and 27%, respectively.
Despite the general increase in sales in some regions of the republic, a decrease in activity was noted in annual terms. The most noticeable decrease is observed in Bukhara (27.4%), Tashkent (21%) and Navoi (more than 18%) regions.
In July, in Tashkent, the rate of decline in rental prices slowed down and the decline amounted to 0.6%, whereas a month earlier, a decrease in rent was noted at the level of 1.2%.
The average rental price in the capital was $8.2 per 1 sq. m.
Compared to July last year, the rent decreased by 5.4%.
The largest decrease in prices compared to July last year for rental housing was noted in Yashnabad (almost 13%), Yunusabad (11%) and Mirzo-Ulugbek (9.1%) districts.
Prices for secondary housing in the republic increased by 0.4% compared to June this year.
Nevertheless, in annual terms, prices for secondary housing in the republic increased by an average of 8.2% over the year.
At the same time, a significant increase in the cost of housing in this segment was noted in Khorezm – 22.1%, Bukhara – 17.7%, Kashkadarya – 13% and Tashkent – 12.2% regions.
During the month of Tashkent, a relatively moderate decrease in prices for secondary housing was noted, which amounted to 1.4%, whereas by July 2023, a price increase of almost 6% was recorded.
A comparatively greater decrease in prices was noted in Uchtepa - 3.6%, Mirabad - 2.6%, Yashnabad - 2% and Almazar - 2% districts of the capital.
For reference: The overview of the real estate market in Uzbekistan is one of the research areas of the CERR, which presents the dynamics of activity in both 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. In addition, data for the same period last year are provided to track market dynamics.
Jaloliddin Usmonov, CERR
CERR Public Relations Service
Tel: (78) 150 02 02 (417)
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