Real estate transactions in Uzbekistan fell slightly in August but remain up year-on-year

In August, prices in Uzbekistan’s secondary housing market continued to rise at a moderate pace, according to a report by the Center for Economic Research and Reforms.

The average market value per square meter increased by 1%, compared to 1.7% in the previous month. On an annual basis, prices across the country rose by 4%.

Since last August, the sharpest increase in ready housing was observed in Surkhandarya region, up 17%. Prices also rose notably in Jizzakh (14%) and Syrdarya (10%) regions.

In Tashkent, the cost of secondary housing grew slightly in August (+0.2%), but declined by 2.3% year-on-year. Meanwhile, prices for new housing in the capital rose by 0.7%.

The steepest price drops in the secondary segment were recorded in Mirzo-Ulugbek district (–6.3%), Chilanzar (–4.6%), and Yashnabad (–4.4%). On the primary market, the strongest growth was registered in Mirabad district (+6.6%), followed by Yakkasaray (+3.6%) and Almazar (+2.6%).

Housing market activity slightly weakened against the backdrop of rising prices – 25,000 transactions were concluded during the month, down 4.6% from July. However, demand for real estate grew by almost 13% compared to the same period last year.

Sales increased significantly in Syrdarya region (34%), Khorezm (29%), and Surkhandarya (27%). In Tashkent, the number of transactions also grew slightly, reaching a new high since the beginning of the year.