The Central Bank has published statistics on the number of real estate transactions and price changes in the primary and secondary markets.
In 2023, there were 335,000 real estate transactions, 4.4% higher than in 2022, as per the Central Bank's report.
The activity in the real estate market was driven by high demand due to its attractiveness compared to other investment and saving tools, as well as the popularity of mortgage lending among the population.
In terms of regions, an increase in the number of transactions was observed in the Kashkadarya, and Navoi regions, the Republic of Karakalpakstan (12%), and the Khorezm region (10%).
Prices in the secondary market increased by 35.1%, while new constructions saw a rise of 39.6% last year.
Significant growth rates were recorded in major and tourist centers – Tashkent, Tashkent region, Andijan region, Bukhara region, and Khorezm region – with increases of more than 40%.
In the capital, there was a notable price gap compared to the regions: prices on the secondary market rose from 10.5 million to 14.9 million UZS per square meter (from $933 to $1,212). The price for 100 square meters of land in the capital increased from 263 to 362 million UZS (from $23,369 to $32,166).
