Tashkent, Uzbekistan (UzDaily.com) -- In December, the real estate market in Uzbekistan grew significantly. It should be noted that the number of transactions in the real estate market increases significantly in December of each year.

The Center for Economic Research and Reforms (CERR) regularly analyzes changes in demand in the real estate market in Uzbekistan.

In 2021, 248.2 thousand real estate contracts were concluded, which is 14.8% more than in 2020 (216.2 thousand units) (growth in 2020 - 11.7%).

In terms of regions, compared to 2020, the number of transactions in the real estate market did not significantly decrease only in the Tashkent region (0.9%).

Annual growth was observed in Namangan (48.6%), Bukhara (41.1%), Andijan (39.8%) and Ferghana (33.6%) regions.

It should be noted that the number of transactions in the real estate market increases significantly in December of each year. In December 2020, the growth rate was 20.9%, and in December 2019 it was 79.3%.

In 2021, the country’s commercial banks issued mortgage loans to 59.6 thousand people in the amount of 9.8 trillion soums (an increase of 7.7%) (in 2020 - 9.1 trillion soums).

Of these, 2.4 trillion soums are provided for the purchase of housing in the secondary market, and 7.4 trillion soums in the primary market. As of 1 January 2022, the balance of mortgage loans amounted to 35.8 trillion soums.