New rule for buying a house from July 1: your money is protected in the bank
A new era will begin in Uzbekistan for purchasing housing starting from July 1, 2025 — the escrow system will be implemented. This innovation will not only strengthen financial discipline in the construction sector but also play a crucial role in guaranteeing citizens' rights.
Escrow – buyer's money is protected in the bank
Escrow is a special accounting system aimed at reducing financial risks, whereby the money paid by the buyer goes not directly to the construction organization but to a special account in the bank. Funds from this account can only be released after certain conditions are met. That is, if the construction is at least 30% completed, the bank will transfer the money to the builder.
This new approach reduces risks in the housing market, prevents fraud, and most importantly — the buyer's funds are guaranteed.
Only projects registered with the state are allowed
From now on, housing contracts will only be made for construction projects that are legally formalized and registered with the state. This will strengthen the legal foundations of construction projects and curb illegal transactions occurring in the "black market".
The system will be implemented gradually
The new regulation will operate in parallel with existing ones from the second half of 2025, specifically from July 1 to December 31. However, starting January 1, 2026, settlements will only be allowed through escrow accounts.
This transitional period will allow citizens, banks, and construction companies to adapt to the new system. At the same time, state control will be strengthened, and each stage of construction will be subject to inspection.
"Transparent construction" — a hand of control
In order to ensure financial cleanliness and transparency, a new information system — the "Transparent Construction" platform will be launched. Through this platform, information on each construction project will be recorded electronically.
This information will be automatically sent not only to state agencies but also to tax authorities. As a result, every step in construction will be open and clear.
What will change?
Buyers will entrust their funds to reliable protection;
Construction companies will receive funds only after specified works are completed;
Illegal construction projects will be curtailed;
The state's ability to control the construction sector will increase;
Transparent data will be provided for the tax system.
How will the public react?
There are heated discussions among the public regarding this innovation. Many see the escrow system as a protection against the gross mistakes and fraud of "unscrupulous builders". Some believe that this mechanism may prioritize the interests of banks.
Nevertheless, many analysts assess this innovation as a significant turning point in the independent housing market. Because it will reduce uncertainties in the construction sector and increase citizens' trust.
Conclusion:
Starting from July 1, 2025, everything regarding housing purchases will not be as it was before. Through the escrow system, your money will be protected from any risks. Every payment, every construction stage will now be under control. This can create a solid foundation not only for citizens but for the entire economy.
