Housing market in Uzbekistan sees sharp revival
In the first quarter of 2026, activity in Uzbekistan's real estate market increased significantly. Between January and March, the number of housing sales transactions exceeded 110,000, nearly a 1.5-fold increase year-on-year.
According to Central Bank data, the volume of mortgage loans has also grown, while housing prices have recorded another round of increases.
Number of transactions rose by 48.4 percent
During the first three months of 2026, a total of 110,100 real estate transactions were registered.
This figure is 48.4 percent higher compared to the same period in 2025.
The highest growth was observed in the following regions:
Sirdaryo region — 67 percent;
Tashkent city — 64 percent;
Andijan region — 56 percent;
Navoi region — 52 percent.
Escrow system accelerated the market
Experts attribute the sharp increase in the number of transactions to the introduction of the escrow system on April 1.
Before the new regulations came into force, many citizens and entrepreneurs rushed to finalize sales contracts.
As a result, higher-than-usual activity was observed in the market during the first quarter.
Mortgage loans reached 5.7 trillion soums
In January–March, the volume of mortgage loans issued to the population amounted to 5.7 trillion soums.
This is 29 percent more than in the same period last year.
The Central Bank noted that the growth in mortgage volume, rising real household incomes, and increased investment in the construction sector are supporting the demand for housing.
Construction of new housing also increased
In the first quarter, the total area of housing commissioned reached 3.3 million square meters.
This is 6.6 percent more than in the same period of 2025.
Despite the increase in construction volume, high demand in the market has not stopped prices from rising.
Homes became up to 9.4 percent more expensive in dollar terms
Prices for primary multi-story housing increased by 8.1 percent in dollar terms.
Homes in the secondary market became 9.4 percent more expensive. When calculated in soums, the growth was 1.8 and 3 percent, respectively.
Thus, the volume of transactions, mortgages, and construction in the market is growing simultaneously. However, the most painful point for buyers remains unchanged — as demand increases, prices continue to climb upward.
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