What changes have been observed in housing prices in Tashkent?

Analyses from the Center for Economic Research and Reforms showed that since the beginning of the year, the real estate market has been strengthening its position.

Since January, an increase in activity in the real estate market can be observed. In this month, the number of sales contracts amounted to 25,500, which is an increase of 17.4 percent compared to January of last year.

Regional Dynamics

Since the beginning of the year, the dynamics of real estate transactions showed a positive trend in some regions. The most significant growth was recorded in Jizzakh region, where sales increased by 44 percent, as well as in Navoi region, which saw a 36 percent increase.

The real estate market in Tashkent city accounts for 28 percent of the total volume, with the number of transactions increasing by 18 percent.

Housing Prices in the Secondary Market

In January, the average housing prices in the secondary market across the republic increased by 0.3 percent, marking a 4.6 percent rise compared to last year.

On an annual basis, the highest increase in housing prices by region was observed in Surkhandarya (11.4 percent), Jizzakh (10.4 percent), and Fergana (8.4 percent) regions.

In January, the average housing price in Tashkent city remained almost unchanged. In the districts of the capital, price decreases were recorded in Sergeli (-1.8 percent), Yunusabad (-1.7 percent), and Mirzo-Ulugbek (-1.5 percent).

On an annual basis, housing prices in Tashkent city decreased by 2.3 percent.

Housing Rental Market

In January, activity in the rental market in Tashkent city slightly decreased. The average rental price was 8.1 dollars (per square meter).

In the districts of Mirobod, Shaykhontohur, and Yakkasaray, rental prices remain high. In these districts, the average rental price is around 10 dollars per square meter.

At the same time, rental prices in Tashkent city decreased by 10.7 percent compared to last year. The largest decreases were recorded in Chilonzor (17.4 percent), Olmazor (16.7 percent), and Yashnobod (14.3 percent) districts.