According to the results of November 2025, significant activity was observed in Uzbekistan's housing market. Data provided by the Center for Economic Research and Reforms indicate that during the month, the volume of real estate transactions grew by 13.2%, with approximately 25,000 sale-purchase agreements formalized. These figures demonstrate that market demand remains stable and public activity is increasing.
In regional terms, the highest growth was recorded in Bukhara region, where housing sales rose by 35.4% compared to the previous month. The number of transactions increased by 26.5% in Kashkadarya region and by 21.7% in Samarkand region. These regions are seeing population growth and greater demand for new housing, which are considered the driving factors behind this market activity.
The capital city, Tashkent, traditionally retains the largest share of the country's housing market. In November, nearly 30% of all transactions carried out across the republic were attributed to Tashkent. The volume of housing sales in the capital increased by 8.8%.
In the secondary housing market, prices rose by an average of 7% year-on-year. The highest price increases were observed in Surkhandarya, Jizzakh, and Namangan regions, where prices grew by approximately 17% compared to the previous year. Meanwhile, in Tashkent, prices for secondary housing decreased slightly, showing a 0.9% decline over the year.
Changes were also recorded in the newly built housing segment. In this market, prices rose by an average of 4%. However, price declines were noted in some districts: specifically, prices for new housing in the Mirzo Ulugbek and Yashnobod districts decreased by approximately 5%. At the same time, new construction projects in the Yakkasaray, Mirobod, and Mirzo Ulugbek districts demonstrated the highest growth, with prices increasing by 9%.
The rental market also maintained a growth trend. In November, the average rent in Tashkent was $8.7 per square meter, which is 5% higher than the previous year. In central districts, rental prices were even higher, reaching up to $11 per square meter in some areas.
Experts believe that this dynamic in the housing market may continue through the end of the year, as the gradual growth in household incomes and increased interest in mortgages continue to support the market.
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