Housing prices in the secondary market rise by 7.4% over the year

In October, real estate transactions in Uzbekistan increased by 12%, reaching 27,100 deals, the highest monthly figure recorded since August 2023. This information comes from the latest analysis of the Uzbekistan housing market by the Center for Economic Research and Reforms.

The report notes that the growth in market activity was observed across all regions. The largest monthly increases were seen in Khorezm, Bukhara, and Tashkent regions, where transactions rose by an average of 26%. Growth in Surkhandarya and Syrdarya regions was more moderate, at approximately 2% and 4% respectively. About 30% of all housing transactions in the country took place in Tashkent city. Last month, transaction volumes in the capital rose by 5.3% month-on-month and 32% year-on-year.

The analysis indicates that housing prices in the secondary market accelerated slightly in October. The average price per square meter increased by 2.4% during the month, compared to 0.6% in September.

Compared to October of last year, average prices in the secondary market rose by 7.4% per square meter. The fastest growth was observed in Surkhandarya and Namangan regions, where housing prices increased by approximately 20%.

Housing market in Tashkent

In October, prices in Tashkent’s secondary housing market remained nearly unchanged, with an average increase of about 0.7%. Year-on-year, secondary market prices in the capital fell by 1% compared to October 2024. The most significant declines were recorded in Mirzo Ulugbek and Yashnobod districts, where average prices dropped by roughly 5%.

In contrast, the primary housing market in Tashkent saw price growth. In October, the average price per square meter increased by 2.1% year-on-year. The highest growth was observed in Bektimer, Yashnobod, Mirabad, and Yakkasaray districts, where prices rose by an average of 5.5%.

Rental market in Tashkent

In October, average rental rates in the capital remained stable at $8.5 per square meter. The highest rental prices continued to be in central districts, including Mirabad, Yakkasaray, and Mirzo Ulugbek, where the average rent per square meter was approximately $10.2.

Compared to October last year, rental rates in Tashkent increased by 1.6%. The largest growth was observed in Bektimer, Yashnobod, and Sergeli districts, where rents rose by an average of 9%.