The decline in the value of the US dollar in September of this year and the start of the new academic year had a significant impact on the cost of renting housing in Tashkent. This was reported in the analysis of the Institute of Macroeconomic and Regional Studies.
According to experts, as a result of the strengthening of the soum against the dollar, rental prices in the national currency have changed. Rental prices, calculated in dollars, on the contrary, tended to increase. This situation partially changed the equilibrium in the rental market.
The start of the new academic year in September also affected rental prices. As a result of the return of students to the capital and the increase in demand for housing, landlords began to raise prices.
An increase in the price of moderately renovated housing was observed.
In September, the rent for moderately renovated apartments increased as follows:
1-room - from $318 to $334 (+$16);
2-room - from 394 to 412 dollars (+18 dollars);
3-room - from $477 to $502 (+25 dollars);
4-room - from $537 to $556 (+$19).
Sergeli and Uchtepa are among the most affordable districts. In Sergeli, one-room apartments start from $293, in Uchtepa - from $316.
The most expensive rental houses are in the Shaykhantakhur and Yakkasaray districts. Prices for 4-room apartments in Yakkasaray have reached $800.
Completely renovated housing has become more expensive.
The increase in rent for fully renovated apartments became even more noticeable:
1-room - from $413 to $435 (+$22);
2-room - from $580 to $614 (+$34);
3-room - from $824 to $874 (+$50);
4 rooms - from 1185 to 1201 dollars (+16 dollars).
The cheapest houses remain in Sergeli and Uchtepa, while prices are sharply higher in Mirabad and Shaykhantakhur. In Mirobod, 4-room apartments cost up to $1,462.
General trend in the rental market
Analysts note that fluctuations in exchange rates, seasonal increases in demand, and housing shortages are the main drivers of the Tashkent rental market.
At the same time, the increase in rental prices is associated with the balance of supply and demand, especially at the beginning of the new academic year, demand increases sharply, keeping prices in the market at a high level.
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