During the period from January to September 2025, Uzbekistan's real estate market experienced significant activity. According to official data, 229,800 property purchase and sale agreements were officially registered nationwide during this period. This represents a 12.8 percent increase compared to the same period last year, indicating a noticeable revival in the market.
Experts link this growth to several key factors. First and foremost, there has been a surge in demand for mortgage loans among the population. In the third quarter of this year, the amount allocated via mortgages reached 5.6 trillion soums. This marks an almost 15 percent growth compared to the previous year. Additionally, rising household incomes and an increase in remittances from abroad have further stimulated the market.
The construction sector has also maintained a positive trajectory. Over the course of a year, the volume of construction work in the country grew by 14.2 percent. By the beginning of October, a total of more than 11.1 million square meters of housing had been completed in Uzbekistan. This figure reflects an annual growth of 2.4 percent.
In terms of prices, September saw an increase in the cost of new housing. Apartment prices in the primary market rose by 2.4 percent in soums and by 5.5 percent in US dollars. Similar trends were observed in the secondary market, where prices increased by 1.8 percent and 5 percent respectively.
The rental market in Tashkent also followed suit. In September, rental rates in the capital rose by an average of 5.4 percent, with an annual growth rate of 8.4 percent. Moreover, the gap between rental rates and secondary housing prices is gradually narrowing, suggesting that the real estate market is slowly moving towards a stable equilibrium.
In short, the housing market is currently in a "heated" phase. Both buyers and sellers are active, and the market continues to progress under its own dynamics.
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