Uzbekistan's real estate market grows despite March slowdown in Tashkent

However, on a year-on-year basis, the market continues to show steady growth — the number of transactions in March was 15% higher than in the same period of 2024. By the end of the first quarter of 2025, the total number of transactions reached 68,400 — a 10.8% increase compared to last year.

The highest growth in market activity was recorded in Jizzakh (34%) and Navoi (29%) regions.

For the first time since systematic monitoring began in 2021, no region reported a decline in transaction volume in the first quarter.

In March, the average price of housing on the secondary market across the country remained at the same level as in February. On a year-on-year basis, the average price per square meter increased by 0.9%. The most notable price increases were seen in the Jizzakh (12.3%), Surkhandarya (10.7%), and Kashkadarya (8.5%) regions.

In Tashkent, the average price of secondary housing fell by 0.6% in March, while prices in the primary (newly built) housing segment declined by 0.4%.

Compared to March of last year, the average price of secondary housing in Tashkent dropped by 5.7%, and the price of new housing decreased by 3.7%.

The most significant annual declines in secondary housing prices were recorded in the Mirabad (8%), Chilanzar (8.7%), and Yashnabad (7.5%) districts.

Prices for new developments also fell. Over the year, the largest drops in average price per square meter were observed in Shaykhantakhur (14.7%), Uchtepa (11%), and Yunusabad (6.7%) districts.