Uzbekistan’s Real Estate Sector Records 13% Annual Rise in Transactions

Uzbekistan’s real estate market continues to demonstrate stable year-on-year growth, according to the Center for Economic Research and Reforms (CERR). In September 2025, the total number of housing purchase and sale transactions reached 24.2K, up 13.7% compared with the same month last year. The strongest annual growth was recorded in Syrdarya (+35.6%), Bukhara (+20.2%), and Tashkent city (+31.2%).

In the third quarter of 2025, a total of 75.5K property transactions were concluded nationwide — 13.6% higher than during the same period in 2024 and 11% more than in the previous quarter. The highest quarterly increases were seen in Bukhara (+27.3%), Syrdarya (+24.9%), and Tashkent city (+19.9%).

Secondary and Primary Markets

Across the country, secondary housing prices rose by 0.6% in September and by 4.6% year-on-year. The sharpest annual increases were noted in Surkhandarya (+19%), Syrdarya (+15.8%), and Jizzakh (+14.5%). In Tashkent, secondary housing prices inched up 0.6% over the month but declined 1.7% compared with September 2024, with the most notable drops in Yashnabad, Mirzo-Ulugbek, and Chilanzar districts, averaging 4.3%.

Meanwhile, primary housing prices rose by 3% in September, led by Mirabad, Bektemir, and Yakkasaray districts, where prices increased by an average of 5.8%.

Rental Market

In the rental segment, the average rent in Tashkent stood at $8.5 per square metre. The highest rates remain in the central districts of Mirabad, Shaykhantakhur, and Yakkasaray, averaging $10.6 per square metre. Compared with last year, rental rates grew 1.4%, with the most noticeable increases in Yunusabad, Almazar, and Mirabad, where prices rose by about 4.4%.

Kursiv also reports that in the first half of 2025, the number of housing sales increased by 10.6% compared to the same period last year, reaching 136.5K transactions.