Rental housing prices surge in Tashkent

In August, rental rates for housing in Tashkent increased, the Institute of Macroeconomic and Regional Research (IMRR) said based on an analysis of data from the OLX.uz portal.

The monthly rent for apartments with basic renovations in the city center grew by 1.9% compared to July. Housing with full renovations in the capital became 0.3% more expensive.

The sharpest increase in the segment of apartments with basic renovations was noted for four-room apartments, which rose by 2.5% in just a month. The rent for one-room apartments increased by 1.3%, and for two-room apartments by 2.1%.

Relatively affordable prices for apartments with basic renovations were noted in the Sergeli and Almazar districts. The average rent for a one-room apartment is $285 and $301, respectively, while the rent for a three-room apartment is $387 and $414, and for a four-room apartment, $460 and $471.

The most expensive one- and four-room apartments with basic renovations were found in the Mirabad district, costing $350 and $736, respectively. For two- and three-room apartments, Yakkasaray district topped the list with rents of $455 and $585.

In the segment of fully renovated apartments, the largest price increase was observed for one-room units (+3.4%). By comparison, prices for two-room apartments increased by only 0.1%, while three- and four-room apartments saw a price decrease (-0.4% and -2%).

The lowest prices for fully renovated apartments were recorded in the Sergeli district, where landlords ask $335 for a one-room apartment. Next is the Uchtepa district, where a one-room apartment rents for $377.

The most expensive rentals for fully renovated apartments are in the Mirabad and Shayhontohur districts, costing $456 and $421, respectively.

IMRR experts noted that several factors contributed to the rise in rental prices, with the start of the new academic year in universities being one of the main reasons.