The residential real estate market in Uzbekistan is strengthening its position.

In November, the real estate market continued to show positive dynamics. Sales reached 21,900 transactions, surpassing the October level by 2.5%.

At the same time, in annual terms, there was a recorded activity increase of 0.8% in this sector.

Regional Analysis

The growth dynamics of real estate sales in November indicate positive trends across various regions of Uzbekistan, particularly in the Khorezm and Bukhara regions, with increases of 15.6% and 8.4% respectively.

Tashkent, as the capital and the largest city in the country, accounts for approximately 30% of the total real estate market, with a monthly activity growth of 9.3%.

Secondary Real Estate Market Analysis

In the month, prices for secondary housing across the republic remained virtually unchanged, with a slight increase of 0.3%, while compared to the previous year, there was a growth of 6.2%.

Over the year, significant price increases in this market segment were noted in the Surkhandarya region at 18.1%, Bukhara at 11.9%, and Kashkadarya at 10.2%.

The most affordable secondary housing remains in the Republic of Karakalpakstan, where the average cost per square meter is $333.

In Tashkent, the average price of secondary housing rose only by 0.2% over the month, reaching just over $1,100.

In terms of districts within the capital, notable price increases were observed in the Bektemir district at 4.4%, Yashnabad at 2.4%, and Shaykhantahur at 2.2%.

Overall, for the year, the average cost per square meter of housing in the secondary market across the republic increased by 6.2%, while in Tashkent, prices moderately decreased by 1.5% respectively.

Rental Market Analysis

Stagnation in the rental market in Tashkent was noted in November. On average, the rent per square meter stood at $8.3, which is consistent with the figure from June of this year.

High rental prices persist in central districts of the capital, such as Mirabad, Shaykhantahur, and Yakkasaray, where the average rent will cost around $10-11 per square meter.

However, compared to the previous year, the average rental cost in Tashkent decreased by 10.7%. The most significant price drops over the year were recorded in the Uchtepa district at 14.5%, Yashnabad at 14.3%, and Yunusabad at 13.8%.