Uzbekistan Sees Rise In Housing Sales
Date
3/17/2024 3:08:36 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 17. Activity in
Uzbekistan's Real estate market rebounded in February following a
slight decline earlier in the year, Trend reports.
Rental price decreases in Tashkent eased, with rates in the
Bektemir and Shaykhontohur districts rising by 3.5 percent, while
decreasing by nearly 6 percent in Yashnobod and Chilonzor
districts.
The Center for Economic Research and Reforms attributes this
uptick in market activity to expanding economic operations.
During this period, 22,200 real estate sale and purchase
contracts were signed, marking a two percent increase from the
previous month. Regional markets also saw growth, with activity up
by 14 percent in Tashkent, 16 percent in Andijan, and 13 percent in
Fergana.
In Tashkent's rental market, the pace of price decline slowed,
with rates decreasing by 1.1 percent in February to $8.9 per square
meter. The largest decreases in rental value were noted in the
Yashnobod district by 6.3 percent and in the Chilonzor district by
5.7 percent. Conversely, rent increased in the Bektemir and
Shaykhontohur districts by 3.5 percent and 2.5 percent
respectively.
Secondary housing prices increased by 0.8 percent during the
month and by 14.1 percent annually. Notable price increases for
secondary housing were recorded in Tashkent (26 percent), Bukhara
(24.1 percent), and Andijan (24.0 percent) regions. In Tashkent,
average prices for secondary housing rose by 1.6 percent over the
month, reaching $1,140. Notable price increases of 2-6 percent were
observed in Mirabad, Yashnobod, and Yakkasaray districts.
Conversely, secondary housing prices in Bektemir and Uchtepa
districts decreased by 1.1 percent and 0.4 percent,
respectively.
Over the year, the secondary housing market in Tashkent rose by
17.3 percent, while the growth rate slowed down by 2.7 percent
compared to the previous year.
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