Uzbekistan's real estate market shows signs of stabilization in October

In October, Uzbekistan’s real estate market saw a slight resurgence, ending a two-month decline with a 0.6% increase in registered property transactions, totaling 21,400, according to a report by the Center for Economic Research and Reforms.

Positive trends were observed in the secondary housing market, where prices remained relatively stable with only a minor 0.1% increase.

In the Republic of Karakalpakstan, secondary housing remained the most affordable, averaging around $328 per square meter. In contrast, Tashkent continued to hold the highest secondary housing prices in the country, averaging $1,100 per square meter. Regional shifts in price included notable increases in Andijan at 5.1% and Syrdarya at 3.3%, while Namangan, Khorezm, and Samarkand experienced decreases of 3.4%, 3.2%, and 2.5%, respectively.

The rental market in Tashkent also showed stability, with the average rental price remaining steady at $8.3 per square meter. Rental prices varied by district, with the lowest costs in Bektemir and Sergeli at around $6 per square meter.

Meanwhile, the highest rental prices were recorded in Mirabad, Shaikhontohur, and Yakkasaray districts, averaging between $10 and $11 per square meter. Over the past year, rental prices in Tashkent have decreased by more than 12%, with the steepest declines seen in Yashnabad, Sergeli, and Mirzo-Ulugbek districts, at 18%, 17%, and 15.2%, respectively.

These recent trends follow a slight increase in rental prices observed in September, where moderately renovated apartments saw a 2.8% rise compared to August, and fully renovated apartments increased by 1.4%.