According to the Central Bank, real estate activity was broadly stable in the second quarter after a strong end to the first quarter. Some 74,400 property transactions were recorded in April–June, virtually unchanged from the same period last year, with the number rising by just 0.1%.
Housing prices continued to climb in the second quarter, although the increases remained moderate compared with the pace of economic activity and household income growth.
In June, prices for newly built apartments in the primary market rose 6.2% year-on-year in soum terms and 12% in dollar terms. Secondary-market prices increased by 6.3% in soum terms and 12.2% in dollar terms.
The Central Bank said the similar rates of price growth in the two markets pointed to steady housing demand.
Prices in the regions, meanwhile, rose faster than in Tashkent. The Central Bank attributed the difference to lower starting prices in the regions, rising household incomes and stronger construction and investment activity.
Land prices in Tashkent continued to fall year-on-year in the second quarter. In June, the average asking price for 100 square meters of land stood at around UZS 292 million, down 9% from a year earlier.
