Housing prices in Uzbekistan have risen, mortgage loans increased by 48 percent

Housing prices in Uzbekistan have increased, mortgage loans rose by 48 percent

In the second quarter of 2026, both demand and supply in the real estate market of Uzbekistan continued to grow simultaneously. According to the Central Bank's analysis, population incomes, economic activity, and mortgage loans supported demand, while construction work and investments directed towards housing increased supply.

In April–June, 74.4 thousand real estate purchase and sale transactions were registered across the republic. This figure remained almost unchanged compared to the same period last year — an increase of 0.1 percent. By region, the number of transactions increased by 17.8 percent in Khorezm region, by nearly 7.5 percent in Navoiy and Syrdarya, and by 6.1 percent in Karakalpakstan. In Tashkent city, the growth was 2 percent.

Mortgage loans remained one of the main supporting factors in the housing market. In the second quarter, banks allocated 7.4 trillion soums in mortgage loans. This is 48 percent more than in the corresponding period of 2025. In the first half of the year, the volume of mortgage loans reached 13.1 trillion soums.

At the same time, the supply of housing also expanded. In January–June, 7.7 million square meters of housing were put into use, which is a 7.2 percent increase over the year. 27.3 trillion soums of investment were directed towards residential construction.

In June, the price of apartments in multi-story buildings increased by 6.2 percent annually in soum terms in the primary market, and by 6.3 percent in the secondary market. In dollar terms, the growth was 12 and 12.2 percent, respectively.

Prices also rose in the rental market. Across the republic, rental prices in multi-story buildings increased by 7.1 percent annually in soum terms in June. In Tashkent city, the average rental price was around 114 thousand soums or 9.5 dollars per square meter per month.

An annual decrease in land plot prices was recorded in the capital. In June, the average asking price for 100 square meters, i.e., 1 sotikh of land, was nearly 292 million soums, which is 9 percent cheaper than a year earlier. However, compared to May, prices recovered by 2.6 percent.

According to the Central Bank's assessment, the growth in construction volume and new housing supply balances the demand in the market, contributing to a relatively moderate increase in prices.