Housing sales in Uzbekistan decline 6.4% in nine months, secondary market prices rise

According to the Center for Economic Research and Reforms (CERR), the total number of real estate transactions across Uzbekistan decreased over nine months, but prices continue to rise.

In September, 24,200 housing sales were recorded nationwide – 13.7% higher than September 2024 (21,200), but slightly lower than August (25,000).

The largest growth in transactions was observed in Syrdarya (+35.6%) and Bukhara (+20.2%) regions, as well as in Tashkent (+31.2%).

In the third quarter (July–September), 75,500 deals were completed – 13.6% more than the same period in 2024 and 11% higher than in the second quarter of 2025.

For the nine months overall, housing sales reached 212,000 transactions, down 6.4% from 226,400 in January–September 2024.

Prices

The average secondary housing price nationwide in September increased 0.6% monthly and 4.6% year-on-year, though growth has slowed compared with the 6.7% annual increase over the same period in 2024. The highest annual price growth was in Surkhandarya (+19%), Syrdarya (+15.8%), and Jizzakh (+14.5%) regions.

In Tashkent, secondary housing prices rose 0.6% monthly but fell 1.7% compared with September 2024, particularly in Yashnabad, Mirzo-Ulugbek, and Chilanzar districts, where prices declined around 4.3%.

On the primary market, prices increased 3% year-on-year, with the strongest growth in Mirabad, Bektemir, and Yakkasaray districts, averaging 5.8%.

Rent

The average rent in Tashkent in September reached $8.5 per sq. m, up 6.2% from August ($8). The highest rates were in central districts – Mirabad, Shaykhantakhur, and Yakkasaray, at around $10.6 per sq. m (up from $10.3).

Compared with September 2024, rental rates increased 1.4%, with the largest growth in Yunusabad, Almazar, and Mirabad districts, averaging 4.4%.