Housing sales surged 47% in March — what is the reason?

Activity in Uzbekistan's housing market has increased significantly, UzA.uz reports. In March of this year, the number of real estate purchase and sale transactions across the republic totaled 43,600. Notably, this figure is 47 percent higher compared to February.

According to the Center for Economic Research and Reforms, several factors influenced this market growth. In particular, a new settlement procedure introduced starting in April may have encouraged some buyers to complete their housing purchases earlier. Consequently, a sharp increase in demand was observed in March.

A significant increase was also recorded in year-on-year comparisons. Specifically, the number of transactions in March of this year doubled compared to the same period last year. This indicates the formation of a steady growth trend in the real estate market.

Broken down by region, activity increased in all provinces. The highest growth was observed in Syrdarya region, where the number of transactions rose by 64.6 percent. Additionally, growth rates of 73.2 percent were recorded in Jizzakh region and 63 percent in Namangan. Growth rates in Andijan, Bukhara, Samarkand, and Surkhandarya regions, the Republic of Karakalpakstan, Tashkent region, and the city of Tashkent were also around 40–50 percent.