Tashkent, Uzbekistan (UzDaily.com) — The Center for Economic Research and Reforms (CERR) has released the results of its analysis of changes in Uzbekistan’s real estate market for the first half of the current year.

According to the study, housing sales from January to June 2025 increased by 10.6% compared to the same period in 2024, reaching 136,500 units.

In June, 21,000 real estate purchase and sale transactions were registered across the country, 3.7% higher than in the same month last year.

Regional dynamics

The highest growth in activity was recorded in Jizzakh (29.9%), Navoi (18.3%), and Surkhandarya (17.7%) regions. A slight decline in transaction volume was observed in Tashkent region (-2.6%).

Secondary market

The average price of housing on the secondary market in June rose by 0.3% compared to May. On an annual basis, prices increased by 1.8%, reflecting stable demand in most regions. Jizzakh region remained the leader in annual price growth (11.7%), despite a moderate monthly decline of 1.3% in June. Positive annual trends were also recorded in Surkhandarya (10.9%), Khorezm (7.3%), Namangan (7.1%) regions and the Republic of Karakalpakstan (9.3%).

Tashkent: secondary and new housing

In the capital, secondary housing prices fell by 4.8% year-on-year, while the new-build segment saw a 1.6% decline. In the secondary market, the steepest drops were recorded in the Mirzo-Ulugbek (-7.6%), Yashnabad (-7.3%), and Chilanzar (-6.9%) districts. In the primary housing segment, the largest price decreases were in Uchtepa (-9.7%), Yunusabad (-8.8%), and Shaykhantakhur (-7.7%) districts.

Rental market

In June, Tashkent’s rental housing market remained stable, with the average rate holding at $8.1 per sq. m. The highest rental prices were traditionally observed in the central districts — Mirabad, Shaykhantakhur, and Yakkasaray — where the average stood at $10.3 per sq. m. On an annual basis, rental rates fell by 2.6%, with the most significant declines recorded in Uchtepa, Yashnabad, and Chilanzar districts.