Tashkent, Uzbekistan (UzDaily.com) -- The Center for Economic Research and Reforms (CERR) in its regular overview analyzes the changes that have occurred in the real estate market.

In August, real estate sales increased by 12.8%, the number of registered purchase and sale transactions amounted to 28 thousand, which is almost 3 thousand more than a month earlier.

The largest growth was recorded in Namangan by 33%, Surkhandarya by 27% and Samarkand regions by 25%.

Compared to August last year, the number of home purchase and sale transactions increased by 6%.

Activity in the capital’s housing market has been showing moderate growth over the past two months. The volume of sales in August increased by 10% and amounted to 7.5 thousand apartments.

In August, there is an increase in demand for apartment rentals in the capital, which is traditional by the end of summer.

The average rental price per 1 sq. m. in Tashkent increased by 2% and amounted to $8.9.

The highest prices for rental housing were noted in Shaikhantakhur ($11.3 per 1 sq. m.), Yakkasaray ($11) and Mirabad ($11.5) districts of the capital.

At the same time, the highest growth rates of rental housing were noted in Shaikhantakhur (+5.4%), Sergeli (+4.8%), Almazar (+4.5%) districts of the capital.

The decrease was noted only in one district of the capital – in Mirabad (by 1.0%).

Apartment rentals in the capital remain the most affordable in Uchtepa ($7.1), Sergeli ($6.7) and Bektemir ($5.6) districts.

Compared to last year, the average rental price in Tashkent increased by 2.3%. Since the beginning of the year, the average rental price has decreased by almost 13.1%.

Secondary real estate market

For the first time in two years, the secondary real estate market has seen a decline in the cost of apartments. In August, the average price per square meter of housing decreased by 0.7%, while compared to last year, prices for secondary housing increased by 22%.

On the contrary, in the capital, prices for secondary housing continued to grow in August and increased by 1.9% over the month against 1.5% in July.

The highest rates of growth in prices for secondary real estate were noted in Uchtepa (+3.6%), Chilanzar (+3%) and Yakkasaray (+2.9%) districts.

In comparison with August of last year, average prices for secondary housing in Tashkent increased by 31.6%.

The review of the real estate market of Uzbekistan is one of the research areas of the CERR, which presents the dynamics of activity in both the primary and secondary real estate markets. The data is presented both for the reporting month and for the period from the beginning of the year to the reporting month. In addition, data for the same period last year are provided to track market dynamics.