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Real estate sales in the first half of the year increased by more than 10%
Demand for real estate in Uzbekistan continues to grow, stimulating price increases. This is stated in a report by the Center for Economic Research and Reforms (a copy is available at Spot).
In June, the market price of housing on the secondary market increased by 0.3%. The price per square meter in Syrdarya region reached $400 - 3.2% more than in May. High growth rates were recorded in Bukhara (+2.2%) and Karakalpakstan (+2.1%) - up to $560 and $346 respectively.
At the same time, prices decreased in five regions over the past month. Apartments in Jizzakh region became cheaper by 1.3% (to $447), in Namangan region - by 1.2% (to $500). Housing prices in Tashkent decreased by 0.1%.
Over the year, apartments in Uzbekistan have risen in price by an average of 1.8%. CER experts noted the continued stability of the secondary market against the background of declining short-term indicators at the beginning of the year.
Jizzakh region, even taking into account a slight price decline in June, became the leader in annual growth rates - 11.7%. Housing in Surkhandarya rose in price by 10.9% (to $456), in Karakalpakstan - by 9.3%, in Khorezm - by 7% (to $454), in Namangan region - by 7%.
Secondary housing in the capital fell by 4.8%, new buildings - by 1.6%. However, Tashkent remains the most expensive city to buy an apartment - $1075 per square meter.
The largest price declines in the secondary market of the capital were recorded in Mirzo-Ulugbek (-7.6%), Yashnabad (-7.3%) and Chilanzar (-6.9%) districts. Primary housing fell significantly in price in Uchtepa (-9.7%), Yunusabad (-8.8%) and Shaykhantakhur (-7.7%) districts.
Besides the capital, high real estate prices remain in Samarkand ($771) and Tashkent region ($652). While in the first case they increased by 2% over the year, in the second - decreased by 0.1%.
Housing sales in the first half of the year increased by 10.6% and reached 136.5 thousand units, of which 21 thousand were in June (+3.7%). Demand increased most strongly in Jizzakh (+30%), Navoi (+18.3%) and Surkhandarya (+17.7%).
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