The Center for Economic Research and Reforms (CERR) has presented its regular review analyzing the changes in Uzbekistan's real estate market.
Despite a strong start to the year, sales in February declined by 12%, amounting to 22,400 transactions.
Nevertheless, despite the overall decline in sales, there was a moderate 1% increase in the number of housing transactions compared to the same period last year, totaling 221 transactions.
The most significant decline in activity was recorded in Surkhandarya, Namangan, and Jizzakh regions, where sales fell by more than 20%. In the capital, sales decreased by 9.5%.
Over the month, prices for secondary housing across the country saw a slight decline of 0.6%, while a moderate year-on-year increase of 1% was recorded.
The highest annual price growth in the secondary market was observed in Bukhara, Jizzakh, and Khorezm regions, averaging 8%.
In February, Tashkent's real estate market displayed mixed trends. The average price of secondary housing in the capital slightly decreased by 0.3%, while primary market prices rose by 2.5%.
Compared to February last year, the average price per square meter in the secondary housing market declined by 5.1%, whereas in the primary housing segment, the decrease was 3.1%.
Among the capital's districts, the most significant annual price declines in the secondary market were recorded in Mirzo-Ulugbek (-8.5%), Chilanzar (-6.9%), and Yashnabad (-6.6%) districts.
In the new housing segment, price reductions were also observed. Over the year, the average price per square meter dropped notably in Uchtepa (-10.1%), Shaykhantakhur (-10.1%), and Mirabad (-9.1%) districts.
In February, rental market activity in Tashkent slightly declined. On average, the cost of renting housing in the capital stood at $8.1 per square meter.
In central districts such as Mirabad, Shaykhantakhur, and Yakkasaray, rental prices remained relatively high, averaging $10 per square meter.
However, compared to the previous year, rental prices in Tashkent decreased by 9.8%. The most significant declines were recorded in Yunusabad (-13.7%), Chilanzar (-12.5%), and Almazar (-12.2%) districts.
Reference: The Uzbekistan real estate market review is one of the research areas conducted by CERR, presenting the dynamics of activity in both primary and secondary markets. Data is provided for both the reporting month and the period from the beginning of the year up to the reporting month.
Jaloliddin Usmonov, CERR
CERR Public Relations Service
Tel: (78) 150 02 02 (417 )
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