15:10 / 22.11.2023

Rental prices down in Tashkent 

Rental prices in the capital have decreased by 6-14% for fairly renovated apartments, and by 6-16% for fully renovated houses.

Photo: Kun.uz

Experts of the Institute for Macroeconomic and Territorial Studies (IMTS) analyzed the change in rental prices for housing in Tashkent in October 2023.

In the last month of this year, the offered rental prices for all types of apartments in the capital decreased compared to the corresponding period of the previous year.

Rental prices for fairly renovated apartments have decreased by 6-14 percent.

The median rent for a one-bedroom apartment fell from $370 to $348 (by 5.9%), for two-bedroom apartments from $474 to $437 (by 7.8%), and for three-bedroom apartments from $611 to $526 (by 13.9%), for four-bedroom apartments from $729 to $633 (by 13.2%).

Offered rental prices for fully renovated apartments are reduced by 6-16 percent.

Specifically, the average rent for a one-bedroom apartment of this type increased from $557 to $508 (by 8.8%), two-bedroom apartments from $695 to $651 (by 6.3%), three-bedroom apartments from $867 to $790 (by 8.9%), four one-bedroom apartments fell from $1,102 to $930 (by 15.6%).

“As a result of the increase in the flow of relocators to Tashkent city in 2022 and the increase in the demand for rent from students with the beginning of the new academic year, rent prices increased significantly in September-October of last year,” the report reads.

Information on rental prices was collected from the olx.uz platform by web scraping.