The Institute for Macroeconomic and Regional Research (IMRR) analyzed the capital’s rental market for September. FX moves—especially the som’s depreciation against the US dollar—and landlords’ higher expectations ahead of the new academic year pushed USD-denominated prices up. As a result, dollar-quoted listings increased versus August.
Mid-renovated apartments
Average asking rents in September:
1-room: +$16 ($318 → $334)
2-room: +$18 ($394 → $412)
3-room: +$25 ($477 → $502)
4-room: +$19 ($537 → $556)
Cheapest districts (mid renovation):
Sergeli: 1-room – $293, 2-room – $365, 3-room – $412, 4-room – $474
Uchtepa: 1-room – $316, 2-room – $381, 3-room – $432, 4-room – $400
Most expensive districts (mid renovation):
Shaykhantohur: 1-room – $354, 2-room – $472, 3-room – $604, 4-room – $617
Yakkasaroy: 1-room – $402, 2-room – $506, 3-room – $660, 4-room – $800
Fully renovated apartments
Fully renovated units also climbed in September:
1-room: +$22 ($413 → $435)
2-room: +$34 ($580 → $614)
3-room: +$50 ($824 → $874)
4-room: +$16 ($1185 → $1201)
Cheapest districts (full renovation):
Sergeli: 1-room – $318, 2-room – $419, 3-room – $497, 4-room – $588
Uchtepa: 1-room – $355, 2-room – $464, 3-room – $535, 4-room – $550
Most expensive districts (full renovation):
Mirobod: 1-room – $479, 2-room – (no data provided), 3-room – $1075, 4-room – $1462
Shaykhantohur: 1-room – $535, 2-room – $746, 3-room – $1094, 4-room – $1369
Method & source
The analysis uses open listings scraped from olx.uz: 28.2k entries for September and 31.6k for August. For both periods, averages were computed after trimming the lower and upper 5% of price outliers.
Key takeaway
Capital rents rose notably in September due to a blend of factors (FX, school season). Sergeli and Uchtepa remain budget-friendly, while Mirobod, Shaykhantohur and Yakkasaroy top the premium bracket. Renters: compare by district, renovation level, and contract fine print, and put deposit/payment terms in writing.
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