Why is this important
The dynamics of the housing and rental market reflect the state of demand and purchasing activity in the regions and the capital. Differences in price trends between regions, primary and secondary markets indicate uneven development of real estate segments. These data are important for assessing housing affordability, investment attractiveness, and rental market load.
What happened
- In the regions of Uzbekistan, a significant increase in housing transactions was recorded, with the highest growth recorded in Bukhara, Kashkadarya, and Samarkand regions.
- Tashkent’s housing market accounts for approximately 30% of all transactions nationwide, and sales volume in the capital increased year-on-year in November.
- In the secondary housing market of the republic, a moderate increase in prices was recorded, while in Tashkent, the cost of secondary housing decreased, and prices in the primary market continued to rise.
- In the capital’s rental market, there is an increase in average rates, especially in the central regions.
Numbers and facts
- In the regional context: the largest annual increase in transactions was recorded in Bukhara region — 35.4%, Kashkadarya region — 26.5%, Samarkand region — 21.7%.
- Tashkent’s market share is about 30% of all housing transactions in the country.
- The volume of housing sales in Tashkent increased by 8.8% in November.
- The average price increase in the secondary market for the republic is about 7% per year.
- In Surkhandarya, Jizzakh, and Namangan regions, the increase in prices in the secondary market was around 17% per year.
Situation in Tashkent
- Secondary market — price decrease by 0.9% g/g, primary market — price increase by 4% g/g.
- The decrease in secondary housing prices in Mirzo-Ulugbek and Yashnabad districts is about 5%.
- Price growth in the primary market in Yakkasaray, Mirobod, and Mirzo-Ulugbek districts is approximately 9%.
- The average rental rate in Tashkent in November is $8.7 per sq. m, an increase of 5% per year.
- In Shaykhantakhur, Mirobod, and Yakkasaray districts, rent reached $11 per square meter.
- The increase in rental rates in Mirzo-Ulugbek, Mirobod, and Bektemir districts is about 8% per year.
Context
- The real estate market demonstrates diverse trends depending on the region and segment.
- In the capital, sales activity persists, but the secondary market is experiencing price pressure, while new buildings are becoming more expensive.
- The increase in rental rates indicates a persistent demand for rental housing, especially in the central areas of the city.
- The regional housing market demonstrates higher growth rates of activity compared to the capital.
- At the same time, the rental market remains tense, especially in the central and business areas of the city.
