Tashkent sees slight rental price increase despite yearly decline

The rental market in Tashkent saw a slight increase in prices in September, according to the Center for Economic Research and Reforms (CERR). Despite this, the average rental cost remains 8.4% lower than the same period last year.

Photo: KUN.UZ

In September, rental prices increased by about 1%, with the average price holding steady at around $8.3 per square meter for the third consecutive month. However, this figure still reflects a significant year-on-year decrease compared to 2023.

The Mirabad district remains the most expensive area to rent in the capital, with prices at $10.8 per square meter. Close behind is Shaykhantahur district at $10.7 per square meter, followed by Yakkasaray district at $10 per square meter.

Conversely, Bektemir and Sergeli districts remain the most affordable for renters, with prices of $5.5 and $6.5 per square meter, respectively. Uchtepa and Almazar districts follow with average rental prices of $7.3 per square meter.

Three of these districts saw a price drop over the past month: rental costs in Almazar district decreased by 14.6%, in Uchtepa by 7.4%, and in Bektemir by 3.8%. On the other hand, Shaykhantahur and Yakkasaray districts experienced a price increase of 7%.

Over the past year, Yashnabad district saw the most significant drop in rental prices, with a decrease of 16.2%. Almazar and Yakkasaray districts also recorded substantial declines of 12.2% and 11%, respectively.