The real estate market of Uzbekistan has shown a noticeable increase in activity in April 2022. At the same time, experts noted that the relatively high share of real estate acquired by legal entities in the Jizzakh (4.6%) and Navoi (5.1%) regions indicates the attractiveness of commercial real estate for business in these regions.
In April 2022, the number of registered real estate purchase and sale transactions in Uzbekistan amounted to 23.4 thousand, which is 15.1% more than in March this year (20.3 thousand). The growth compared to the same period last year was 12.6% (20.8 thousand).
Fig.1. Changes in the number of executed contracts for the purchase and sale of real estate
By region, the highest annual growth rates in April were observed in Khorezm (39%), Surkhandarya (32%), Namangan (29%), Jizzakh (27%), Samarkand (25%) regions.
Relatively low growth rates in the number of transactions in the real estate market were observed in the Syrdarya (2.6%) and Tashkent (2.2%) regions, as well as in the city of Tashkent (3.8%).
The analysis also showed that the relatively high share of real estate acquired by legal entities in the Jizzakh (4.6%) and Navoi (5.1%) regions indicates the importance of real estate for business in these regions.
Purchase and sale of real estate by individuals and legal entities
By region, the largest number of contracts for the purchase and sale of real estate by individuals was observed in Tashkent (6,9 thousand), Tashkent (2,5 thousand) and Ferghana (2,1 thousand) regions.
At the same time, legal entities most of all purchased real estate in Tashkent (79), Navoi (60) and Jizzakh (27) regions.
Fig.2. The number of concluded contracts for the purchase and sale of real estate in Tashkent and the Tashkent region
Price changes in the secondary housing market
According to the CERR study, the average price of housing in the secondary market in April increased by 2.1% compared to March (the decrease in March was 1.9%).
In the context of regions, the highest rates of growth in residential real estate prices were observed in Jizzakh (6.5%), Andijan (5.3%), Tashkent (5.1%) and Syrdarya (5%) regions, and in Surkhandarya (-1.7%), Namangan (-1.4%) and Khorezm (-1.2%) regions price reduction was recorded.
Fig.3. Change in prices for secondary housing in Tashkent and the administrative centers of the regions (USD per 1 sq. m)
Average house prices on the secondary market in the capital in April increased by 1.3% compared to the previous month. The greatest growth was recorded in Bektemir (3.5%), Mirabad (2.6%) and Yunusabad (2.4%) districts.
According to estimates, the average rent in Tashkent in April was $8.6 (per 1 sq. m.), which is 0.4% more than in the previous month (an increase of 9.1% in March). In the context of districts, the highest rents were recorded in Shaikhantakhur ($11.7), Mirabad ($10.8) and Yakkasaray ($10.6), and the lowest rents were observed in Sergeli ($5.6) and Bektemir ($6.2) and Uchtepa ($6.7 USD) districts.
*You can find out how the rent changes in the capital, what period is needed on average to buy a home in Uzbekistan and in which regions it takes more time, and in which cities this indicator is relatively low in issue No. 4 of the Economic Review magazine.
Khalilulloh Khamidov, Head of the sector of CERR
tel: (78) 150 02 02 (410)
Public Relations Sector of CERR
tel: (78) 150 02 02 (417)