CERR: Average cost of rental housing in Tashkent decreased in November

In November, the average price of rental housing in the city of Tashkent decreased by 2.1% compared to $9.5 in October and amounted to $9.3 per 1 square meter, according to the review of the Center for Economic Research and Reforms (CERR).

During the month, a decrease in rental prices was recorded in 10 districts of the capital. The most expensive areas for rent were Shaykhantakhur ($11.6 per square meter), Yakkasaray ($10.9) and Mirabad ($11.5) districts. The cheapest prices were in Uchtepa ($8.1), Sergeli ($7.1) and Bektemir ($6.2) districts.

At the same time, the average rental price in the capital decreased by 6.1% compared to last year. Since the beginning of the year, the average rental price has decreased by 9.2%. Rent prices in the capital increased during the month only in Bektemir district (by 3.7%).

Real estate market

In November, real estate sales in Uzbekistan increased by 4%, which is 800 more houses compared to the previous month. The largest increase in activity during the month was recorded in Khorezm (23%), Namangan (16%) and Jizzakh (12%) regions.

During the year, housing sales decreased by 10%. Activity decreased the most in Navoi and Jizzakh regions (by 23% and 18%, respectively). Sales in the capital decreased by 24% compared to last year.

Secondary real estate market

In November, the average increase in the price of housing in the secondary market was 0.7% per square meter, prices have increased by almost 18.2% since November 2022.

During the year, a significant increase in housing prices on the secondary market was noted in Khorezm (32.9%), Tashkent (31.0%), and Bukhara (26.9%) regions.

In Tashkent, the price of secondary housing increased by 0.4% during November. In the capital, the highest growth rates of prices were observed in Shaykhantakhur (1.7%), Yunusabad (1.6%) and Sergeli (1.5%) districts. During the year, the average price of secondary housing in the capital increased by 22.8%.