Tashkent, Uzbekistan (UzDaily.com) — The Center for Economic Research and Reforms (CERR) has published a new analytical report on the state of Uzbekistan’s real estate market.

According to data for the first half of 2025, the number of residential real estate transactions in the country increased by 10.6% compared to the same period last year, reaching 136,500 transactions.

In June 2025 alone, over 21,000 sales transactions were registered, which is 3.7% higher than in June of the previous year.

Regional Market Activity on the Rise

The real estate market is demonstrating strong resilience across most regions of the country. The most significant increases in transaction volumes were recorded in the following regions:

Jizzakh — up 29.9%
Navoi — up 18.3%
Surkhandarya — up 17.7%

In contrast, Tashkent region saw a slight decline in the number of transactions, down by 2.6%.

Secondary Housing Market

In June, the average price of housing on the secondary market rose by 0.3% compared to the previous month. On an annual basis, prices increased by 1.8%, indicating steady demand.

The regions with the highest year-on-year growth in secondary housing prices were:

Jizzakh region — up 11.7%
Surkhandarya region — up 10.9%
Republic of Karakalpakstan — up 9.3%
Khorezm region — up 7.3%
Namangan region — up 7.1%

Price Decline in the Capital

In Tashkent, however, prices have declined. Over the past year, the cost of secondary housing dropped by 4.8%, while in the new construction segment, prices fell by 1.6%.

The most notable declines in secondary housing prices were seen in:

Mirzo-Ulugbek district — down 7.6%
Yashnabad district — down 7.3%
Chilanzar district — down 6.9%

Among newly built properties, the sharpest price drops occurred in:

Uchtepa district — down 9.7%
Yunusabad district — down 8.8%
Shaykhantakhur district — down 7.7%

Rental Market Remains Stable

The average rental rate in Tashkent in June stood at $8.1 per square meter, maintaining the same level as in previous months. The highest rental rates were traditionally observed in central districts of the capital — Mirabad, Shaykhantakhur, and Yakkasaray — at around $10.3 per square meter.

On an annual basis, average rental prices fell by 2.6%, with the most noticeable declines in the Uchtepa, Yashnabad, and Chilanzar districts.