Sales in real estate market of Uzbekistan increase sharply

An analysis of the real estate market showed that housing sales in Uzbekistan increased by 30% over the month. CERR experts explain this by a sharp increase in mortgage lending in August, which in turn affected the positive dynamics of sales in all regions.

In August, the number of registered real estate purchase and sale transactions in Uzbekistan amounted to 26.5 thousand, which is 30% more (+6.2 thousand) than in July (20.3 thousand). Since the beginning of the year, the growth in housing sales amounted to 8.5% (172.7 thousand).

A sharp increase in mortgage lending in August by 37% compared to July (from 1.1 trillion soums to 1.5 trillion soums) influenced the positive dynamics of sales in all regions.

High growth rates by 2.3 times were noted in Karakalpakstan, in Samarkand – 75% and in Jizzakh – 41%. Compared to August 2021, the number of real estate purchase and sale transactions increased by 22% (+4.7 thousand).

According to calculations, the growth of the average cost of housing in the secondary market in August amounted to 0.5% per month (in June – 2.7%, in July – 2.5%). A significant increase in the cost of housing is observed in Khorezm (6.1%), Kashkadarya (1.9%) and Fergana regions (1.8%).

A decrease in housing prices was recorded in Surkhandarya (5.3%), Andijan (2.1%), Syrdarya (1.2%) and in Navoi regions (1.1%).

In the secondary real estate market in Tashkent, price growth slowed down a bit and amounted to 1.4% (2.4% in June, 2.9% in July). The largest increase in housing prices was noted in the Chilanzar, Almazar and Shaykhantakhur districts. In the Sergeli district, a decrease in prices was recorded.

At the same time, since the beginning of the year, average prices in the capital have increased by 13% (7% in the republic), which indicates an increase in demand for housing, including as a result of an influx of foreign citizens.