The growth of real estate market Uzbekistan significantly
In the real estate market of Uzbekistan, unique and unexpected processes are currently being observed, as reported by Zamin.uz.
According to the latest data, although the pace of housing price growth has significantly slowed down, overall market activity has not declined. The financial stability review presented by the Central Bank details the key changes in this sector and provides forecasts for the coming years.
These analyses indicate important trends for citizens planning to purchase housing and for investors. Regarding price formation, it appears that the market is beginning to respond to real economic fundamentals after a period of speculation.
Previously observed sharp and unjustified price increases are now being replaced by stability. In particular, while prices in the national currency have decreased by more than four and a half percent on an annual basis, in foreign currency equivalent, growth has remained around one and a half percent.
This situation indicates that artificial market bubbles are dissipating and prices are returning to their real levels. Notably, the slowdown in price growth has not deterred buyers.
On the contrary, the number of purchase and sale agreements formalized in notarial form has increased by fifteen percent over the year, reaching nearly three hundred thousand. Experts attribute this growth to the expansion of citizens’ financial capabilities and favorable conditions in the mortgage market.
As a result of rising average wages and improved mortgage loan conditions, the population’s purchasing power index has significantly increased. As a consequence, the number of families without their own housing has decreased by more than thirty-four thousand compared to the previous year.
Demographic growth is recognized as one of the main drivers of the real estate market. The formation of new families and the steady increase in population continuously sustain a high level of natural demand for housing.
Therefore, even under conditions of price stabilization, a sharp decline in demand is not expected. These trends confirm that Uzbekistan’s real estate market is transitioning toward a healthier and more transparent stage of development.
