Real estate rentals in Uzbekistan: Growth in contracts and tax revenues

Tashkent, Uzbekistan (UzDaily.com) — According to the State Tax Committee, as of 1 October 2024, over 529,000 real estate rental contracts have been registered with tax authorities.

A significant increase in the number of contracts compared to the same period last year was recorded:

- Individuals: +14.4% (378,000 contracts)

- Legal entities: +16.5% (151,600 contracts)

This growth has also impacted the amount of tax assessed:

- Individuals: +15.2% (393.9 billion soums)

- Legal entities: +20.1% (207 billion soums)

The situation regarding student housing rentals deserves special attention:

- Student rental contracts registered: 94,600

- Total number of student tenants: 127,481

Property owners who rent to students are exempt from paying taxes, which provided a tax benefit totaling 49.1 billion soums.

Thus, there is a positive trend in Uzbekistan’s rental market, indicating increased market activity and higher tax revenues.