In Tashkent, land prices fell and multi-storey buildings became more expensive.
The Central Bank of the Republic of Uzbekistan has presented analytical data on the land market in Tashkent as of the end of the first quarter of 2026. This was reported by Zamin.uz.
According to the findings, while land prices in the capital have shown a downward trend, the opposite is true in the multi-apartment housing segment, where prices continue to rise. This situation further highlights the divergence between different directions in the real estate market.
During the first quarter of the current year, the average price of one sotka of land in Tashkent was recorded at 301 million soums. This figure is 6.4 percent lower than the prices at the beginning of 2025.
Moreover, current prices have significantly decreased compared to the highest level observed in 2024. Recall that during that period, the average price of one sotka of land in the capital reached up to 380 million soums.
Experts from the Central Bank attribute the decline in land prices to the composition of offers entering the market. Specifically, in recent times, the number of land plots offered for sale in areas located farther from the city center has increased significantly.
The growing share of land plots in more affordable areas in overall sales is indicated as one of the main factors behind the decline in average prices in the capital. At the same time, a completely different picture is forming in the multi-apartment housing market.
As of the end of March, the price of newly constructed apartments in foreign currency terms increased by 8.1 percent. In the secondary market, apartment prices showed an even higher growth rate, reaching 9.4 percent.
Analysts believe that while the oversupply of land plots is putting downward pressure on prices in the land market, strong demand in the housing segment is causing prices to rise steadily.
