Central Bank: Mortgage Lending in Uzbekistan Reaches 15 Trillion Soums

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has seen a significant increase in mortgage lending and the number of borrowers during the first nine months of 2025, according to data from the Central Bank.

From January to September, mortgage loans totaling 15.06 trillion soums were issued, a 28.6% increase compared to the same period last year. Outstanding mortgage debt reached 76 trillion soums, rising by 8.3 trillion soums since the beginning of the year.

The number of mortgage recipients grew 17.8%, from 42.7 thousand to 50.1 thousand people. The average loan size increased nearly 10%, exceeding 300 million soums.

The Ministry of Economy and Finance financed mortgages worth 7.43 trillion soums, up 10.5% year-on-year, though its share of total lending fell from 57.4% to 49.3%. The Mortgage Refinancing Company increased loans by 20.5%, surpassing 1.5 trillion soums.

Banks’ role in mortgage lending has grown substantially: their financing rose 63.5%, reaching 6.12 trillion soums, bringing their market share to 40.7% compared to less than 32% a year earlier.

By region, Tashkent remains the leader, with loans totaling 4.81 trillion soums, up 36.2% year-on-year, accounting for nearly a third of all mortgages. Fergana region follows with 1.14 trillion soums (+12.8%), then Andijan (1.13 trillion soums, +36.3%), Samarkand (1.05 trillion soums, +3.4%), and Surkhandarya (929 billion soums, +63%). Other regions reported less than 800 billion soums in loans.

On the primary market, 74% of all mortgages were issued — up 9 percentage points from the same period in 2024.

About 60% of borrowers are men (≈29.8 thousand). By age, 66% of mortgages were taken by people aged 31–50, 25% by those under 30, and 9% by borrowers over 50.