Number of real estate contracts concluded in Uzbekistan reaches 20.8 thousand in April
12/05/2021 09:19
Number of real estate contracts concluded in Uzbekistan reaches 20.8 thousand in April
12/05/2021 09:19
Tashkent, Uzbekistan (UzDaily.com) -- The Center for Economic Research and Reforms analyzed changes in the real estate and vehicle markets in Uzbekistan in April 2021. According to analysts’ calculations, demand for real estate has returned to its long-term trend. The number of transactions will grow and set local records in the market, but there will be no sharp rise in prices.
The Center for Economic Research and Reforms (CERR) regularly analyzes changes in demand in the real estate and car markets. The increase in demand in these markets in January-April this year indicates a full recovery of economic activity in Uzbekistan.
In April 2021, the number of real estate contracts concluded in the country amounted to 20.8 thousand, which is 2.5% more than in March, an increase compared to April 2019 was 28.1% (16.2 thousand). Due to the coronavirus pandemic in April 2020, this figure fell to 2.1 thousand, which is 87.6% less than in February and 86.1% less than in March.
The city of Tashkent accounts for more than 30% of the real estate market, the number of contracts for the purchase and sale of real estate in the capital in April of this year. amounted to 6.76 thousand, which is 9.5% more than in March. At the same time, growth over the same period in 2019 amounted to 83.4%.
In April last year, this figure in the capital fell to 214 thousand, compared to February by 95.8%, and compared to March by 95.4%.
In the regional context, the highest annual growth rates of concluded contracts with real estate were recorded in Tashkent (9.5%), Ferghana (9.4%), Syrdarya (5.9%) and Tashkent (3.3%) regions.
It should be noted that this indicator decreased in Surkhandarya (13.7%), Jizzakh (9.9%) and Navoi (8.4%) regions.
In the 1st quarter of 2021, mortgage loans were allocated for a total amount of 1578.3 billion soums. As of 1 April 2021, the balance of mortgage loans amounted to 29.4 trillion soums, which is 7.1 trillion soums (or 31.8%) more compared to the same period last year.
Of these, 455.5 billion soums (28.8% of the total volume of mortgage loans) accounted for the city of Tashkent, 144.5 billion soums (9.1%) in Andijan, 127.9 billion soums (8, 1%) to Fergana and 122.9 billion soums (7.8%) to Surkhandarya region.
The results of the analysis show that the measures taken by the government to support the mortgage market have begun to bear fruit.
Moreover, the real estate market is supported by the implementation, which began at the beginning of March 2021 in Uzbekistan, housing construction programs with a total funding of US$1.1 billion.
At the same time, the main factor in the increase in the volume of construction remains the high demand of the population for housing.
At the same time, a jump in housing prices is not expected, since the government has set a task that the cost per square meter of housing does not exceed 4 million soums. In particular, it is planned to achieve this by establishing the provision of inexpensive building materials.
The implementation of the housing program will also help support the construction market, which in turn will give an additional impetus to economic development in the post-pandemic period.
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