Land prices in Tashkent have fallen, while apartment prices continue to rise

The Central Bank has released an analysis of land plot prices in Tashkent for the first quarter of 2026. According to the report, land prices in the capital have decreased, while the multi-story housing market continues to see price increases.

In the first quarter, the average price of 1 sotix (0.01 hectare) of land in Tashkent was 301 million soums. This is 6.4 percent lower than the figure at the beginning of 2025. Prices are also significantly lower than the peak levels recorded in 2024, when 1 sotix of land was valued at an average of up to 380 million soums.

The Central Bank attributes the decline in land prices to an increase in the number of plots being put up for sale in areas further from the city center. The rise in supply has impacted the average market price.

At the same time, the opposite trend is being observed in the apartment market. In March, the price of newly built homes increased by 8.1 percent in dollar terms, while apartments in the secondary market became 9.4 percent more expensive.

According to the analysis, increased supply in the land market is driving prices down, whereas in the multi-story housing segment, prices continue to rise due to persistently high demand.