CERR noted a 14% decrease in the average cost of renting flats
Uzbekistan
At the end of the first half of 2023, Uzbekistan's property market grew by 3.9%, according to the CERR. At the same time, the average cost of rent in the capital decreased by more than 14%.
According to the Centre for Economic Research and Reforms (CERR), at the end of the first half of 2023, the number of real estate sale and purchase transactions amounted to almost 131 thousand, with an annual growth of 3.9%.
Analysts in the article noted a decline in activity last month. Specifically, sales fell 7.7% for the month after a significant increase in May. The biggest decline was noted in the city of Tashkent - by 17%, Syrdarya region - 10% and Navoi region - 9%.
Changes in rental prices in Tashkent city
According to the study, the cost of renting flats continues to decline. Thus, since the beginning of the year, the average cost of rent in the capital has fallen by 14.3%. The biggest decline was noted in March - by 7%. However, compared to June last year, the rent in Tashkent increased by 5.4%.
At the same time, since the beginning of the year, the CERR noted a decrease in rent by more than 20% in three districts of the capital. In particular, in Almazar district - by 26%, Shaykhantakhur district - by 24% and Bektemir district - by 22%.
Despite a recovery and rebound in May, the rental market fell by 2.4% in June, with the average price in Tashkent at $8.8 per square metre.
High prices for renting housing in June per 1 square metre still remain in Shaykhantahur district - $10.8, Yakkasaray district - $10.9 and Mirabad district - $11.7. At the same time, flat rent in the capital remains the most affordable in Uchtepa district - $7.3, Sergeli district - $6.3 and Bektemir district - $5.5.
Analysts in the article noted a decline in activity last month. Specifically, sales fell 7.7% for the month after a significant increase in May. The biggest decline was noted in the city of Tashkent - by 17%, Syrdarya region - 10% and Navoi region - 9%.
Changes in rental prices in Tashkent city
According to the study, the cost of renting flats continues to decline. Thus, since the beginning of the year, the average cost of rent in the capital has fallen by 14.3%. The biggest decline was noted in March - by 7%. However, compared to June last year, the rent in Tashkent increased by 5.4%.
At the same time, since the beginning of the year, the CERR noted a decrease in rent by more than 20% in three districts of the capital. In particular, in Almazar district - by 26%, Shaykhantakhur district - by 24% and Bektemir district - by 22%.
Despite a recovery and rebound in May, the rental market fell by 2.4% in June, with the average price in Tashkent at $8.8 per square metre.
High prices for renting housing in June per 1 square metre still remain in Shaykhantahur district - $10.8, Yakkasaray district - $10.9 and Mirabad district - $11.7. At the same time, flat rent in the capital remains the most affordable in Uchtepa district - $7.3, Sergeli district - $6.3 and Bektemir district - $5.5.
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