© Sputnik / Bakhrom Khatamov
In the fourth quarter of 2025, growth rates in the real estate market of Uzbekistan noticeably accelerated. According to data from the Central Bank of Uzbekistan on the real estate market, during this period the number of purchase and sale transactions amounted to 89.7 thousand and increased by 24.5 percent compared to the same period last year.
Since the beginning of the year, the total volume of transactions has reached 319.5 thousand, with overall growth recorded at 15.8 percent. Especially high growth rates in market activity have been observed in the Bukhara, Syrdarya, and Samarkand regions.
During 2025, the volume of issued mortgage loans increased by 29 percent, reaching 21.2 trillion soums. Their share in housing purchase and sale transactions amounted to 22 percent.
At the same time, the increase in real incomes of the population by 9.2 percent in the fourth quarter became one of the main factors supporting demand in the market.
High activity was also maintained in the construction sector, and the total area of housing commissioned reached 15.9 million square meters. This figure is 7.2 percent higher compared to last year.
Housing prices continued to grow in dollar terms. In particular, prices in the primary market increased by 5.7 percent, while in the secondary market they rose by 7.9 percent.
However, in the national currency — the soum — prices remained relatively stable. This can be explained by sellers’ tendency to link prices to the dynamics of foreign currencies.
Growth was also observed in the rental market, with rental prices increasing by 8.3 percent by the end of the year. At the same time, in the city of Tashkent, the cost of land plots decreased by 9.4 percent.
Overall, the fourth quarter of 2025 is assessed as an active and growth-rich period for the real estate market.
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