Rental prices declining in Tashkent

This is stated in the review of the Center for Economic Research and Reforms (CERR).

According to them, for the second month in a row, the number of housing purchase and sale transactions has been growing: in January, 18,000 transactions were registered, in February, their number rose to 22,500 (an increase of 24%).

High growth rates were noted in Navoi (63%), Samarkand (52%) and Syrdarya regions (30%). Compared to February 2022, home sales increased by 2.6%.

In February, in most districts of the capital, there was a decrease in prices for rental housing. Thus, the average cost of rent in Tashkent amounted to $9.86 per 1 sq. m. with a decline of 2.3% by January 2023. The highest cost of rent was noted in Shaykhantakhur ($13.3), Yakkasaray ($12) and Mirabad ($12) districts.

Relatively, low rental prices were recorded in Uchtepa ($7.7), Sergeli ($6.8) and Bektemir ($6.6) districts of the capital.

At the same time, by the corresponding period of 2022, the average cost of rent in Tashkent increased by 19.9%.

According to calculations, in a month, the average cost of housing per 1 sq. m. in the secondary market grew by 4.5%, while since February 2022 the growth was 23.1%. Since the beginning of the year, a significant increase in the cost of housing has been noted in Navoi (32.7%), Fergana regions (31.5%) and Tashkent (31.5%).

In the secondary market of Tashkent, the rise in prices in February amounted to 3.8% per month. The highest price increase was noted in Chilanzar (9.6%), Sergeli (6.2%) and Almazar districts (4.9%).

Compared to February 2022, average housing prices in Tashkent increased by 31.5%.