Uzbekistan's real estate market, particularly in Tashkent, is undergoing significant transformation in recent years. New residential complexes are being actively constructed, replacing older housing and shifting buyer preferences. According to the Center for Economic Research and Reforms, approximately 136,5 thousand real estate transactions were concluded in the first half of 2025, a 10.6% increase compared to the previous year. Tashkent accounts for nearly 28% of the entire housing market, driven by expanded construction and the emergence of new projects.
Construction volumes have also surged sharply: from 2010 to 2016, the country's housing stock grew by about 400,000 homes, while from 2017 to 2024, around 1.65 million new properties were built. This has fundamentally altered market structure, offering buyers more choice and prompting developers to compete on quality. New constructions provide not just housing, but a modern living environment suited to contemporary lifestyles.
The old housing stock, especially in Tashkent, was built decades ago, with worn-out engineering networks leading to common issues like water supply interruptions, heating problems, and poor insulation. Modern residential complexes utilize energy-efficient materials, new technologies, and advanced engineering solutions, helping retain warmth in winter and coolness in summer. As noted by Omar Tofik, founder of Dreamland Development, today's buyers seek not just an apartment, but an entire living ecosystem.
New projects feature closed territories, green spaces, playgrounds, and sports facilities, fostering a new urban culture. Additionally, purchasing new builds is legally safer, as buyers become the first owners and transactions are conducted directly with developers, reducing risks related to inheritance disputes or utility debts.
Real estate in Tashkent remains a popular investment tool, but market dynamics are shifting. Prices for secondary housing in some capital districts have fallen by 4-5% over the year, while costs in new complexes continue to rise. As highlighted by Andrey Sadykov, head of Realting.uz, buyers now focus not only on price but also on project quality, infrastructure, and security. Projects like Dreamland Aviasozlar Plaza and Dreamland Parkent are developed on a "city within a city" principle, reflecting broader market trends.
Source: podrobno.uz