Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan will implement a mass real estate valuation system following a decree signed by President Shavkat Mirziyoyev.

The reform aims to introduce modern valuation methods that closely reflect market prices. The primary objectives include creating favorable conditions for increasing the economic assets of citizens and businesses, as well as establishing a transparent mechanism for determining the value of residential and commercial properties. Under this initiative, more than 8 million real estate properties and approximately 7 million land plots across the country will be formally recognized as economic assets.

A key aspect of the reform is ensuring a balanced approach to property valuation in taxation, sales, collateralization, expropriation for public needs, and other transactions. Additionally, a reliable and regularly updated database reflecting the real estate market’s current state will be developed. This measure is expected to enhance fairness in tax regulation and eliminate disputes over property valuations.

Mass property valuation will begin in 2025 and will be introduced in stages. From 2025 to 2026, the system will be tested in Tashkent as part of a pilot project. In 2026–2027, it will be expanded to Nukus and regional centers, followed by nationwide implementation starting in 2027.

The decree also mandates the establishment of the National Center for Mass Real Estate Valuation under the Cadastre Agency.

The document outlines key government bodies responsible for the new system’s operation. The Ministry of Economy and Finance will oversee unified state policy in mass real estate valuation, while the Cadastre Agency is designated as the specially authorized body in this field. The National Center will act as the executive body responsible for implementing the valuation system.

To ensure a solid regulatory and methodological framework, the "Mass Real Estate Valuation Methodology" will be approved. Based on the results of the pilot project in Tashkent, international expertise, and foreign expert recommendations, a Law on Mass Real Estate Valuation is expected to be developed by the end of 2026.

Additionally, by 1 November 2025, two automated information systems—"Real Estate Market Monitoring" and "Mass Real Estate Valuation"—will be developed and integrated based on the approved methodology.