Housing market grew by 12 percent in October

The housing market in Uzbekistan showed significant activity in October. This was reported by Zamin.uz.

According to data released by the Center for Economic Research and Reforms, during this period, the number of purchase and sale transactions sharply increased, showing a revival not seen in the last one and a half years. Over the past month, housing sales grew by 12 percent, with 27,100 transactions completed.

This indicator signals that demand in the market reached its highest point since August. Although growth was recorded in almost all regions, the number of transactions increased by an average of 26 percent in Khorezm, Bukhara, and Tashkent regions.

Growth in Surkhandarya and Syrdarya regions was relatively low, amounting to 2 and 4 percent respectively. At the same time, nearly 30 percent of the sales share was attributed to Tashkent.

In the capital, the volume of sales increased by 5.3 percent in October and by 32 percent year-on-year. Changes were also observed in the secondary housing market.

Compared to September, prices increased on average by 2.4 percent. Over the course of a year, a price increase of 7.4 percent was recorded.

Surkhandarya and Namangan regions led in this regard, with prices rising by an average of 20 percent. In Tashkent, prices in the secondary market remained almost unchanged in October, showing only a 0.7 percent increase.

However, on an annual basis, a 1 percent decrease was noted, especially in Mirzo Ulugbek and Yashnobod districts, where prices fell by an average of 5 percent. Prices in the primary housing market continue to rise steadily.

In October, the average price per square meter increased by 2.1 percent year-on-year. The highest growth was recorded in Bektemir, Yashnobod, Mirobod, and Yakkasaray districts, where prices rose by an average of 5.5 percent.

Balance is also maintained in the rental market. In Tashkent, the average rental price per square meter remained stable at around 8.5 dollars.

The highest rental rates were observed in Mirobod, Yakkasaray, and Mirzo Ulugbek districts, where prices approached 10.2 dollars. Over the year, rental prices in the capital increased by an average of 1.6 percent.

Bektemir, Yashnobod, and Sergeli districts led the growth in rental prices, with rents rising by an average of 9 percent in these areas. These dynamics indicate a rapidly increasing internal demand.

According to experts, activity in the housing market is expected to continue in the coming months. Source: Zamin.uz.