CERR: Real estate sales decreased by 5.7% in the first half of the year

In June, prices on the secondary real estate market rose by 0.3% after accelerating in May, the Center for Economic Research and Reforms (CERR) reported.

An increase in housing prices was observed in more than half of the regions of Uzbekistan. The largest increase in the average price per square meter was observed in Jizzakh – by 3.6% per month, to $400. Prices also increased noticeably in Samarkand ($755, +3%) and Karshi ($427, +2.8%).

However, real estate in Andijan became 5.3% cheaper – on average one sq. m. is offered for $541. In Namangan, prices decreased by almost 5% – to $467.

Tashkent with an average price of $1,142 per sq. m. maintains leadership. However, prices fell by more than 1% in June. The largest increase in prices was observed in Shaykhantakhur (+0.8%), Yakkasaray (+0.6%) and Almazar districts (+0.3%).

Over the past year, prices for secondary housing in Uzbekistan increased by almost 10%. Real estate prices increased the most compared to last June in the Khorezm, Bukhara, Kashkadarya and Tashkent regions.

In June, 20.2 thousand transactions were completed. Activity in the housing market fell 6.4% by May, and almost 15% year-on-year.

The largest drop in housing sales in June was noted in the Syrdarya region, where the number of contracts fell by 21%. Next come Bukhara region with 20% and Andijan region with 16%. In the capital, monthly activity increased by 5%.

In the first half of the year, the number of real estate sales decreased by 5.7%. Negative dynamics were observed in Navoi region (-26.5%), Tashkent (-13.8%) and Jizzakh region (-10.6%). At the same time, activity increased in Andijan (+12.7%), Khorezm (+8%) and Kashkadarya regions (+6%).