New housing and rental prices rise in Tashkent

According to an analysis by the Center for Economic Research and Reforms (CERR), the real estate market continued to show steady annual growth as of September 2025.

Across the country, a total of 24.2 thousand housing sale and purchase contracts were registered, marking a 13.7% increase compared to September last year.

The highest annual growth rates were recorded in the Syrdarya region (+35.6%), the Bukhara region (+20.2%), and Tashkent city (+31.2%).

During the third quarter of 2025, a total of 75.5 thousand real estate transactions were formalized nationwide — an increase of 13.6% year-on-year and 11% compared to the previous quarter.

The most significant quarterly growth was observed in the Bukhara region (+27.3%), the Syrdarya region (+24.9%), and the Tashkent city (+19.9%).

Primary and secondary housing markets

Across the country, the average price in the secondary housing market in September increased by 0.6%. On an annual basis, compared to September of last year, the average price per square meter in the secondary market rose by 4.6%.

The highest annual price growth was recorded in the Surkhandarya (+19%), Syrdarya (+15.8%), and Jizzakh (+14.5%) regions.

In Tashkent city, prices in the secondary housing market increased by 0.6% in September; however, they declined by 1.7% compared to September 2024.

The largest decreases in the secondary housing market were observed in the Yashnabad, Mirzo Ulugbek, and Chilanzar districts, where prices fell by an average of 4.3%.

At the same time, the primary housing market showed a 3% increase in prices. The most notable price rises were seen in Mirabad, Bektemir, and Yakkasaray districts, with an average growth of 5.8%.

Rental market

In September, the average rental price in Tashkent amounted to $8.5 per square meter. The highest rental rates were recorded in the Mirabad, Shaykhontohur, and Yakkasaray districts.

Compared to September of last year, rental prices in the capital increased by 1.4%. The most notable growth was observed in the Yunusabad, Olmazor, and Mirabad districts, where rental rates rose by an average of 4.4%.